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Moody’s rates MGIC Ba1
Moody’s Investors Service said it assigned a Ba1 rating to $550 million of senior unsecured notes being issued by MGIC Investment Corp.
The eight-year notes will rank pari-passu with the issuer’s other senior unsecured obligations.
The company will use the proceeds to repay all or a portion of its $425 million of senior notes due in August 2023, a portion of its convertible junior subordinated debentures due 2063 and for general corporate purposes.
The outlook on MGIC remains stable.
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