Fitch revises First American view to positive

Fitch Ratings said it changed the outlook for First American Financial Corp.'s outlook to positive from stable and affirmed its BBB+ long-term issuer default rating and BBB senior unsecured debt rating

“The revision of the outlook to positive reflects the company's strong recent financial performance trends. Fitch believes these trends are likely to persist, despite macro headwinds expected to impact the title industry going forward, and that such performance, along with maintenance of current rating considerations, would support a rating upgrade. A key metric that Fitch would view as supportive of an upgrade is a run-rate GAAP basis operating margin exceeding 12%,” the agency said in a press release.

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