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Article: DCR Raises CMG Mortgage Insurance Company's Claims Paying Ability Rating to 'AA'.
- Article from:
- PR Newswire
- Article date:
- September 30, 1999
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Copyright informationCOPYRIGHT 1999 PR Newswire Association, Inc. 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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NEW YORK, Sept. 30 /PRNewswire/ -- Duff & Phelps Credit Rating Co. (DCR) has upgraded the claims paying ability rating for CMG Mortgage Insurance Company (CMG) to 'AA' (Double-A) from 'AA-' (Double-A-Minus). CMG is a 50-50 joint venture between CUNA Mutual Investment Corporation (CMIC) and PMI Mortgage Insurance Co. (PMI). Organized in 1994, CMG provides mortgage insurance exclusively for the credit union market. DCR's rating action is prompted by the continuing strong support from CMG's owners, its favorable prospects as the only mortgage insurer dedicated to the credit union market, the high quality of its insured portfolio, the adequacy of its capital for covering ...
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646 words
......TOM SHEAN, STAFF WRITER Virginia's credit unions have provided a steadily rising share...Bankers Association, found that in 1985 credit unions made fewer than 1 percent of Virginia...ammunition in the battle between banks and credit unions over eligibility for credit-union ...
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