Moody's rates Genworth MI Mexico AAA.mx

Moody's Investors Service said it assigned an A2 global-scale insurance financial strength rating and a Aaa.mx IFS rating to Genworth Seguros de Credito a la Vivienda SA (Genworth MI Mexico), an indirect, wholly owned subsidiary of Genworth Financial, Inc. (A2, senior unsecured).

Genworth MI Mexico's ratings are based on the strong formal support provided by Genworth Financial and the strategic importance of its international expansion effort, the agency said.

The outlook is stable.

According to Moody's, Genworth MI Mexico's A2/Aaa.mx ratings reflect the irrevocable and unconditional guaranty from Genworth Financial which covers all claims up to a maximum of $175 million.

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