The PMI Group Inc., Walnut Creek, Calif., has reported that its fourth-quarter and full-year 2007 results cannot be released because of delays in obtaining fourth-quarter financial results from FGIC Corp. The company added that it has completed the financial results for its U.S. mortgage insurance and international operations. PMI is the largest shareholder in FGIC, with a 42% interest. FGIC recently lost its triple-A rating and has proposed splitting off some of its operations. PMI did not disclose when it would be able to release its results. At noon on Feb. 21, PMI's common stock was down $0.23 to $7.69 per share.
PMI Cites Delays in 4Q, '07 Results
February 21, 2008, 2:00 p.m. EST 1 Min Read
