Moody’s eyes Genworth for upgrade

Moody’s Investors Service said it placed the ratings of Genworth Mortgage Holdings, Inc., Genworth Holdings, Inc. and Genworth Mortgage Insurance Corp. on review for upgrade.

Genworth Financial Inc.’s reported filing of an S-1 registration statement with the Securities and Exchange Commission for initial public offering prompted the review, Moody’s said.

The review reflects the expected execution by Genworth Holdings to monetize a portion of its ownership in its U.S. mortgage insurance business and to use the proceeds to provide liquidity by reducing a portion of its debt, the agency said.

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