S&P: No change to Radian

Standard & Poor's said it views Radian Group Inc.'s announced intention to issue a tender offer to repurchase outstanding debt maturing in February 2013 as an opportunistic repurchase of outstanding debt.

The agency said the action therefore does not change its view of the issuer credit rating on Radian or the financial strength ratings on its operating subsidiaries.

S&P said it believes Radian has more-than-adequate resources either to redeem the outstanding debt due 2013 through a tender offer, or otherwise to retire the debt in its entirety when it comes due in 12 months.

However, the agency said it remain concerned with the company's capital adequacy and its ability to repay the debt due in 2015 and 2017.

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