S&P lowers Radian, view negative

Standard & Poor's said it lowered its insurer financial strength ratings on Radian Guaranty Inc., Radian Mortgage Insurance Inc., and Amerin Guaranty Corp., now known as Radian Mortgage Assurance Inc., by one notch to B from B+.

At the same time, the agency said it lowered the issuer credit rating on Radian Group Inc. to CCC from CCC+. The ratings on Radian Asset Assurance Inc., Radian Group's bond insurance subsidiary, are unaffected by this action.

The outlook on all Radian-related entities is negative.

The agency said the rating action reflects the company's operating performance failing to meet expectations through third-quarter 2011, S&P said.

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