MOODY'S ASSIGNS Aaa INSURANCE FINANCIAL STRENGTH RATING TO UNITED GUARANTY MORTGAGE INDEMNITY COMPANY
Moody's Investors Service has assigned a Aaa insurance financial strength rating to United Guaranty Mortgage Indemnity Company (UGMIC). UGMIC's Aaa rating is based on an unconditional guarantee provided by its parent, Aaa-rated United Guaranty Residential Insurance Company, of UGMIC's insurance obligations. Moody's also noted the disciplined business standards within the United Guaranty mortgage insurance group, and the financial strength of UGMIC's ultimate parent, Aaa-rated American International Group (AIG). Moody's rating outlook is stable, reflecting expectations of continued direct and indirect support from AIG for the United Guaranty group.
United Guaranty Mortgage Indemnity Company, based in Greensboro, North Carolina, USA, writes specialty mortgage insurance, such as insurance for low down-payment residential mortgages. United Guaranty Residential Insurance Company, also based in Greensboro, is active in writing mortgage insurance on residential mortgages in all 50 states. American International Group, Inc. is a diversified insurance holding company headquartered in New York City.
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