Moody's assigns Radian notes A2

Moody's Investors Service said it assigned an A2 rating to Radian Group Inc.'s proposed issuance of $250 million in senior unsecured notes due 2015.

Proceeds will be used to redeem $219.3 million in senior convertible debentures due 2022, the agency said.

Moody's said the ratings reflect the holding company's diversified revenue stream, but notes that there is uncertainty over the strength and predictability of demand for Radian's Aa-rated financial guaranty insurance, the potential for underestimating associated risk and the possibility of accumulating large single and highly correlated risk in affiliated companies.

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