Moody’s rates MGIC’s senior notes Ba1; assigns shelf ratings
Approximately $550 million of debt rated New York , August 6, 2020 – Moody's Investors Service, ("Moody's") has assigned a Ba1 rating to $550 million of senior unsecured notes being issued by MGIC Investment Corporation (NYSE: MTG, senior Ba1 stable). The new notes will have a 8 year maturity...MGIC Investment is a holding company. Through Mortgage Guaranty Insurance Corporation, the company is engaged in the mortgage insurance business. The company provides mortgage insurance to lenders throughout the U.S. and to government sponsored entities. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure or sale approved by the company Through certain other non-insurance subsidiaries, the company also provides various services for the mortgage finance industry, such as contract underwriting, analysis of loan originations and portfolios, and mortgage lead generation.
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