TORONTO, Oct. 11, 2012 /CNW/ - The ratings for Genworth Financial
Mortgage Insurance Company Canada (Genworth Canada) and its TSX listed
parent, Genworth MI Canada Inc., have recently been confirmed by both
Standard & Poor's Ratings Services (S&P) and DBRS Ratings Limited
Genworth Canada's financial strength remains rated 'AA-' with a stable
outlook by S&P and 'AA' with a stable trend by DBRS. The ratings
reflect the Company's strong capital position and risk management
expertise, and prudential regulation by the Office of the
Superintendent of Financial Institutions, among other factors.
Genworth MI Canada Inc.'s issuer credit rating remains 'A-' with a
stable outlook by Standard & Poor's Ratings Services and 'AA' (low)
with stable trend by DBRS. The Company believes these ratings reflect
modest debt leverage, strong debt service coverage and ongoing business
The full ratings reports are available from the respective rating
About Genworth MI Canada Inc.
Genworth MI Canada Inc. (TSX:MIC), through its subsidiary, Genworth
Financial Mortgage Insurance Company Canada, has been the leading
Canadian private residential mortgage insurer since 1995. Known as
Genworth Canada, the Company provides default mortgage insurance to
Canadian residential mortgage lenders that enables low down payment
borrowers to own a home more affordably and stay in their homes during
difficult financial times. Genworth Canada combines technological and
service excellence with risk management expertise to deliver innovation
to the mortgage marketplace. As of June 30, 2012, Genworth Canada had
$5.5 billion in total assets and $2.8 billion in shareholders' equity.
Based in Oakville, Ontario, Genworth Canada employs approximately 260
people across Canada. Additional information about Genworth MI Canada
Inc. is available at www.genworth.ca.
SOURCE: Genworth MI Canada
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