NMI Holdings, Inc. Receives “A-” Insurer Financial Strength and “BBB+” Senior Debt Ratings from Fitch
20 January 2024 - 12:00AM
NMI Holdings, Inc. (Nasdaq: NMIH) today announced that Fitch
Ratings has assigned its principal operating subsidiary, National
Mortgage Insurance Corporation (National MI), an “A-” insurer
financial strength rating and assigned the company’s outstanding
senior notes due June 1, 2025 a “BBB+” rating. Both ratings carry a
stable outlook.
Fitch’s rationale in support of the ratings
includes the strength of National MI’s regulatory capital position,
its high-quality insured portfolio, sophisticated use of risk-based
pricing strategies and best-in-class credit performance, as well as
its broad use of reinsurance solutions and the high-quality profile
of its investment portfolio.
“We’re pleased to receive this recognition from
Fitch,” said Adam Pollitzer, President and Chief Executive Officer.
“National MI leads the private mortgage insurance market with its
uniquely high-quality insured portfolio, comprehensive use of
risk-transfer solutions, and best-in-class credit performance. We
have a robust balance sheet supported by the significant earnings
power of our platform, and are well-positioned to continue
delivering differentiated value and counterparty support for our
customers and other important stakeholders.”
About NMI Holdings, Inc.NMI
Holdings, Inc. (NASDAQ: NMIH), is the parent company of National
Mortgage Insurance Corporation (National MI), a U.S.-based, private
mortgage insurance company enabling low down payment borrowers to
realize home ownership while protecting lenders and investors
against losses related to a borrower's default. To learn more,
please visit www.nationalmi.com.
Cautionary Note Regarding
Forward-Looking StatementsThis press release contains
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the "Securities Act"), Section
21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act”), the U.S. Private Securities Litigation Reform Act
of 1995, or in releases made by the U.S. Securities and Exchange
Commission (“SEC”), all as may be amended from time to time.
Forward-looking statements are statements about future, not past,
events and rely on a number of assumptions concerning future events
and involve certain important risks and uncertainties, any of which
could cause our actual results to differ materially from those
expressed in our forward-looking statements. Forward-looking
statements in this press release include, without limitation,
statements regarding National MI’s positioning for its future
performance. More information about the risks, uncertainties and
assumptions affecting National MI include, but are not necessarily
limited to, the risk factors and forward-looking statements
cautionary language contained in our Annual Report on Form 10-K and
in other filings made with the SEC. We do not undertake, and
specifically disclaim, any obligation to revise any forward-looking
statements to reflect the occurrence of future events or
circumstances.
Investor Contact John M. SwensonVice President,
Investor Relations & TreasuryJohn.Swenson@NationalMI.com(510)
788-8417
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