GE Mortgage Ins. Moves To Lower Capital Level
NU Online News Service, Sept. 26, 4:05 p.m. EDT?General Electric Mortgage Insurance Corp., based in Raleigh, N.C., announced its decision today to manage its U.S. business at "Double-A" capital levels, down from previous "Triple-A" levels.
The announcement was followed by downgrades by some rating agencies. Fitch Ratings, based in New York, said it cut GEMICO's "Triple-A" insurer financial strength rating to "Double-A", with a "Stable" outlook.
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