|
|
Article: Fitch Downgrades Fidelity National After Acquisition.
- Article from:
- Business Wire
- Article date:
- December 23, 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)
|
CHICAGO -- Fitch Ratings has downgraded the Issuer Default Rating (IDR) of Fidelity National Financial, Inc. (NYSE: FNF) to 'BB' from 'BBB' and the insurer financial strength (IFS) ratings of its title insurance subsidiaries to 'BBB' from 'A-' (Please see complete list of underwriter IFS ratings below). All ratings remain on Rating Watch Negative.
The IFS ratings of the acquired LandAmerica Financial Group's (LFG) underwriters, Commonwealth Land Title Insurance Company, Lawyers Title Insurance Corporation, United Capital Title Insurance Company and LandAmerica New Jersey Title Insurance Company, were upgraded to 'BBB-' from 'BB'. The ratings remain on Rating ...