Moody's: Radian Group view to positive

Moody's Investors Service said it affirmed the Caa1 senior debt rating of the holding company, Radian Group.

The outlook was changed to positive from negative.

The outlook change was prompted by Radian Group's announced public offering and pricing of about $550 million of common stock, Moody's said.

The proceeds will improve the holding company's liquidity and enhance Radian's capital and business prospects, Moody's said.

The positive outlook on the mortgage insurance operations reflects Radian's improved business prospects in an attractive new production market as a result of the recapitalization, the agency said.

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