Fitch Ratings has placed the ratings of Fidelity National Financial and its title insurance subsidiaries on "rating watch negative" status following Fidelity's proposed acquisition of LandAmerica's largest title subsidiaries. Citing concern about "leverage and capitalization ratios" that will result from the acquisition, Fitch said it will complete a review following the closing of the acquisition and taking into account the capitalization plans for for the subsidiaries. Fidelity National currently carries a "BBB" rating from Fitch, which is just two notches above junk status. Fidelity's title subsidiaries have a financial strength rating of "A-minus."
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