S&P lifts Old Republic

Standard & Poor’s said it raised the financial strength ratings on Old Republic Title Insurance Group to A- from BBB+ and stand-alone credit profile to BBB+ from BBB.

The agency also said it revised the outlook to stable from positive.

The upgrade reflects Old Republic’s continuing growth in the title-insurance market and its adequate operating performance over the past three years, S&P said.

Its competitive profile, though, is still limited because of its market share relative to peers despite recent significant growth, the agency said.

The company has minimized its housing market exposure risk via its flexible distribution network with independent agents, S&P said.

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