The counterparty credit and senior debt ratings of Fund American Enterprises Holdings Inc., the parent of Source One Mortgage Services Corp., have been lowered from BBB-plus to BBB by Standard & Poor's.The rating agency attributed the downgrade to the company's "nearly completed transformation" into an insurance holding company with reduced non-strategic investments. "The original triple-B-plus senior debt rating depended significantly on the liquidity that was afforded by the passive investment portfolio," S&P said. S&P's website address is http://www.ratings.standardpoor.com.
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