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LandAmerica Ratings Downgraded

Fitch Ratings says title insurer's balance sheet fundamantals are lagging peers'.



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James A. Bacon
Richmond.com
Thursday, August 28, 2008

Fitch Ratings has downgraded the Insurer Financial Strength (IFS) ratings of LandAmerica Financial Group's insurance subsidiaries to 'BBB+' from 'A-'. LandAmerica provides title insurance and other financial services to the real estate industry.

 

Fitch believes LandAmerica’s consolidated balance sheet fundamentals lag those of national peers at a time in the market cycle where risk-adjusted surplus, financial leverage and reserve redundancy are critical to financial strength ratings. More.

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