Radian hit with ratings downgrades by Moody's

06/26/2008 | Wall Street Journal, The

Moody's Investors Service has lowered ratings on Radian Group and its bond-insurance and mortgage-insurance units. The two-notch downgrade to A2 on Radian Guaranty and the three-notch downgrade to A3 on Radian Asset Assurance raised worries among investors that the companies may be at higher risk of defaulting on their obligations. Moody's lowered the rating of the parent company from investment grade to the "junk" rating of Ba1.

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