Fitch turns Stewart view to stable

Fitch Ratings said it revised its outlook for Stewart Information Services Corp. to stable from positive and affirmed its BBB issuer rating and the BBB- rating on its $450 million of 3.6% notes due 2031.

The stable outlook reflects the macroeconomic situation that is expected to weaken over the rating period, Fitch said.

“While Fitch anticipates operating margins will decline over the near term due to economic headwinds the stable outlook reflects the belief that the company will quickly right size expenses to offset declines in revenues,” the agency said in a press release.

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