Real Estate & Property Law

Fitch Lowers Ratings On Fidelity National

By Dave Wirsching

Fitch Lowers Ratings On Fidelity National, Subsidiaries >FNF – WSJ.com

Fitch Ratings lowered its issuer default rating on Fidelity National Financial Inc. (FNF) further into junk territory, while cutting its ratings on nearly all of the company’s title insurance subsidiaries to the brink of junk.

Fitch said the IFS ratings downgrade reflects continuation of an aggressive capital management strategy where the operating leverage of the underwriting subsidiaries has increased to a level beyond peer companies. But Fitch kept the ratings in investment-grade territory as its operating results were both historically, and through the first half of the year, better than its peers.

Full post as published by Clearing Title on September 15, 2009 (boomark / email).