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S&P affirms National Mortgage Insurance
S&P said it affirmed its ratings on NMI Holdings Inc. and National Mortgage Insurance Corp., including the BBB- long-term issuer credit rating on National Mortgage and the BB- long-term issuer credit rating on NMI Holdings.
The outlook is positive.
The agency said the action is based on improvement in the business risk profile to satisfactory from fair, reflecting a favorable view of NMI's competitive position, operating metrics, decreasing expense ratio, stabilizing market share of 8%, and prudent underwriting and demonstrable access to capital markets.
“We feel these factors would make the company's operating performance more aligned with the industry in the next 12 months,” S&P said in a news release.
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