S&P may cut Republic Mortgage

Standard & Poor's said it placed the A counterparty credit ratings on Republic Mortgage Insurance Co. on CreditWatch with negative implications.

"The CreditWatch placement reflects the potential that the deterioration in RMIC's stand-alone credit profile could be significant enough to result in a downgrade of the company," S&P analyst Ron Joas said in a statement.

"Because of its strategic importance to Old Republic International Corp., RMIC was the only major U.S. private mortgage insurer that we did not place on CreditWatch as part of the rating actions that we took in December 2008."

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