Moody’s ups Radian to investment grade

Moody’s Investors Service said it raised Radian Group Inc.’s senior unsecured debt rating to Baa3 from Ba1.

The upgrade reflects Radian’s improved risk-adjusted capital adequacy resulting from the increased use of reinsurance, and its improving profitability metrics, the agency said.

“We expect Radian's profitability to remain strong during the remainder of 2022 and into 2023 as increasing persistency rates and higher interest rates boost revenues even as mortgage loan origination volumes are expected to trend lower,” Moody’s said in a press release.

The outlook is stable.

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