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Article: Fitch Places Fidelity National's Ratings on Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- December 2, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Fitch Ratings has placed the 'BBB' Issuer Default Rating (IDR) of Fidelity National Financial, Inc. (NYSE:FNF) and the 'A-' insurer financial strength (IFS) ratings of its title insurance subsidiaries (please see complete list below) on Rating Watch Negative.
The rating action follows FNF's announced acquisition of LandAmerica Financial Group's (LFG) title insurance underwriters: Commonwealth Land Title Insurance Company, Lawyers Title Insurance Corporation, United Capital Title Insurance Company, and LandAmerica New Jersey Title Insurance Company.
The Negative Rating Watch reflects concern over the increased operating leverage and ...