Moody’s upgrades Genworth

Moody's Investors Service said it upgraded Genworth Mortgage Insurance Corp. insurance financial strength rating to Baa2 from Baa3 and Enact Holdings, Inc. long term issuer rating and senior unsecured debt rating to Ba2 from Ba3.

In addition, Moody's has upgraded Genworth Holdings, Inc. backed senior unsecured debt rating to B1 from Caa1.

The outlook is stable.

This rating action follows Genworth Financial, Inc.'s (Genworth) minority IPO of its U.S. mortgage insurance business through its intermediate holding company Enact, Moody’s said in a news release.

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