MGIC Drops Fitch as Rating Agency

Fitch Ratings has withdrawn the insurer financial strength ratings of Mortgage Guaranty Insurance Corp., and the long-term issuer rating of MGIC Investment Corp., Milwaukee, Wis. These actions were taken at MGIC's request, a company spokeswoman said. She added MGIC had no additional comment. Fitch Ratings also had no comment. MGIC's mortgage insurance subsidiary had a BB- financial strength rating, while the parent company had a long-term issuer rating of B-. Also withdrawn were B- ratings on a pair of senior notes offerings and a C-rating on convertible junior subordinated debentures due in 2063.

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