EMERYVILLE, Calif., Jan. 19, 2024 (GLOBE NEWSWIRE) — 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 Statements
This 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. Swenson
Vice President, Investor Relations & Treasury
John.Swenson@NationalMI.com
(510) 788-8417
Bay Street News