The insurer financial strength rating on the Cal-Mortgage Loan Insurance Division has been lowered from AA to A and left on Rating Watch Negative by Fitch Ratings.Fitch said the action was based on its recent downgrade of the state of California's general obligation bonds from AA to A. Cal-Mortgage, a division of the state's Office of Statewide Health Planning and Development, guarantees nonrated and below-investment-grade health care credits in order to improve access to capital for health care facilities and services deemed by the state to be needed. Fitch can be found on the Web at http://www.fitchratings.com.
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