S&P rates Radian notes A

Standard & Poor's said it assigned its A rating to Radian Group Inc.'s $250 million senior notes issue due 2035.

The proceeds will be used to redeem the principal outstanding, about $219 million, on the senior convertible debentures due 2022 and for general corporate purposes.

S&P said, on a consolidated basis, Radian's operating results have been very strong, including a 34% increase in new income in 2004.

However, the negative outlook is driven by concerns over risk management and controls in the financial guaranty segment, the agency said.

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