Moody's lowers Radian debt

Moody's Investors Service said it downgraded Radian Group's senior debt rating to Caa2 from Caa1.

In addition, Moody's confirmed the Ba3 insurance financial strength ratings of Radian Guaranty Inc. and Radian Mortgage Assurance Inc., and the Ba1 insurance financial strength rating of Radian Asset Assurance Inc.

The outlook for all ratings is negative.

Moody's said the downgrade of Radian's senior debt rating reflects the holding company's constrained liquidity, the ongoing stress at its mortgage insurance subsidiaries and its upcoming debt maturities.

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