DBRS changes Sagen MI view to stable

DBRS said it changed the trends for Sagen MI Canada Inc. and Genworth Financial Mortgage Insurance Co. Canada to stable from negative.

The agency confirmed Sagen’s issuer and senior unsubordinated debt rating at A(high) and fixed-to-fixed rate subordinated notes rating at A (low).

“The trend change to stable from negative reflects the reduction in risk regarding the Canadian economic outlook from the prior year, when DBRS Morningstar changed the trends to negative due to increased risk of mortgage defaults arising from the steep increase in unemployment levels resulting from the Coronavirus Disease (Covid-19) pandemic,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.