Moody's puts Radian Re on review for downgrade

Moody's Investors Service said it has placed the Aa2 insurance financial strength rating of Radian Reinsurance Inc. on review for possible downgrade.

Moody's said its review of Radian Re will focus on the strength of its relationships with the primary financial guarantors that it reinsures, and the impact on future business prospects. The review will also consider the consequences to Radian Re of the changing competitive dynamics of the financial guaranty reinsurance market given the potential for competition from new entrants, including any quasi-captive reinsurers established by the primary guarantors.

Radian Re's ongoing relationship with Radian Asset Assurance Inc., an affiliated primary financial guaranty company (unrated by Moody's), will be another area of focus, as will the future strategic direction and profile of Radian Re within the larger Radian Group.

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