Moody’s affirms Radian, Yarlington

Moody's Investors Service said it affirmed Radian Group Ltd.'s A3 issuer rating, Radian Capital plc's A3 long-term senior-secured debt ratings, Yarlington Housing Group's A3 issuer rating and Yarlington Treasury Services plc's A3 long-term senior-secured debt rating, in anticipation of the merger of Yarlington and Radian in November.

The outlooks are stable.

The agency said the affirmation is based on the expectation that the credit strengths of the merged entity will reflect those of the standalone entities, including strong financial performance, very strong liquidity, debt metrics in line with peer medians and a modest capital expenditure burden.

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