Genworth Financial Inc: Genworth Financial and China Oceanwide discussing a deal extension is credit negative
FINANCIAL INSTITUTIONS ISSUER COMMENT 18 July 2017 RATINGS Genworth Holdings, Inc. Senior Unsecured Ba3 Junior Subordinate B1 Genworth Life Insurance Company & Genworth Life Insurance Company of New York Insurance Financial Strength Rating Ba3 Genworth Life and Annuity Company Insurance Financial Strength Rating Baa2 Genworth Mortgage Insurance Corporation Insurance Financial Strength Rating BGenworth Financial is a holding company. Through its subsidiaries, the company facilitates homeownership in United States and internationally by providing mortgage insurance products that allow people to purchase homes with low down payments while protecting lenders against the risk of default. Through its homeownership education and assistance programs, the company also helps people keep their homes when they experience financial difficulties. The company provides long-term care insurance products as well as service life insurance and fixed annuity products. The company has four operating business segments: United States Mortgage Insurance, Australia Mortgage Insurance, United States Life Insurance, and Runoff.
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