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We continue to utilize Radian Asset as an important source of capital support for Radian Guaranty, our principal mortgage insurance subsidiary, and, by reducing our overall financial guaranty risk through this commutation, we have increased our ability to access that capital.
NYSE:PMI) announced today that Standard & Poor's (S&P) placed a AA insurer financial strength rating (stable outlook) on its principal mortgage insurance subsidiaries -- PMI Mortgage Insurance Co.
Radian Asset, the principal financial guaranty subsidiary, continues to serve as an important source of capital support for Radian Guaranty, the principal mortgage insurance subsidiary, and is expected to continue to provide this core business with cash infusions over time.
The Company issued the following statement regarding the S&P announcement: S&P's action does not affect the ratings of Radian Group or Radian Guaranty, Radian's principal mortgage insurance subsidiary.
and its principal mortgage insurance subsidiary will be Radian Guaranty Inc.