Radian Announces S&P Upgrade of Radian’s Financial Strength and Credit Ratings and Webcast of Fourth Quarter Conference Call

Rhea-AI Summary

Radian Group Inc. (RDN) received an upgrade in its long-term insurer financial strength and issuer credit ratings from S&P Global Ratings, with Radian Guaranty Inc. seeing an upgrade to A- from BBB+ and Radian Group Inc. to BBB- from BB+. The outlook for both ratings is stable. S&P cited Radian's underwriting discipline and strong earnings as reasons for the upgrade. The company also announced a conference call to discuss its fourth quarter and full year 2023 results on February 8, 2024.

WAYNE, Pa.--(BUSINESS WIRE)-- Radian Group Inc. (NYSE: RDN), announced today that S&P Global Ratings (S&P) has raised its long-term insurer financial strength and issuer credit ratings on Radian Guaranty Inc., the company’s principal mortgage insurance subsidiary, to A- from BBB+. At the same time, S&P raised its long-term issuer credit rating on Radian Group Inc. to BBB- from BB+. The outlook for both ratings is stable.

In its report, S&P cites that the stable outlook for Radian reflects S&P’s expectation that Radian will maintain underwriting discipline and continue to generate strong earnings that will be capital accretive. Additional information on Radian’s ratings and the S&P report may be found on Radian’s website at https://www.radian.com/who-we-are/for-investors/rating-agency-reports.

Webcast of Fourth Quarter Conference Call
The company also announced that it will hold a conference call on Thursday, February 8, 2024, at 12:00 p.m. Eastern time to discuss the company’s fourth quarter and full year 2023 results, which will be announced after the market closes on Wednesday, February 7, 2024.

The conference call will be webcast live on the company’s website at https://radian.com/who-we-are/for-investors/webcasts or at www.radian.com. The webcast is listen-only. Those interested in participating in the question-and-answer session should follow the conference call dial-in instructions below.

The call may be accessed via telephone by registering for the call here to receive the dial-in numbers and unique PIN. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

A digital replay of the webcast will be available on Radian’s website approximately two hours after the live broadcast ends for a period of one year at https://radian.com/who-we-are/for-investors/webcasts.

In addition to the information provided in the company's earnings news release, other statistical and financial information, which is expected to be referred to during the conference call, will be available on Radian's website at www.radian.com, under For Investors.

About Radian
Radian Group Inc. (NYSE: RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit radian.com and homegenius.com to learn more about how Radian and its pioneering homegenius platform are building a smarter future for mortgage and real estate services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240110347654/en/

For Investors

John Damian – Phone: 215.231.1383

Email: john.damian@radian.com

For the Media

Rashi Iyer – Phone: 215.231.1167

Email: rashi.iyer@radian.com

Source: Radian Group Inc.

FAQ

What are Radian Group Inc.'s (RDN) upgraded ratings from S&P Global Ratings?

Radian Guaranty Inc. received an upgrade to A- from BBB+ and Radian Group Inc. to BBB- from BB+. The outlook for both ratings is stable.

Why did S&P Global Ratings upgrade Radian's ratings?

S&P cited Radian's underwriting discipline and strong earnings as reasons for the upgrade.

When will Radian Group Inc.'s conference call to discuss its fourth quarter and full year 2023 results take place?

The conference call will be held on February 8, 2024, at 12:00 p.m. Eastern time.

Where can I access the webcast of Radian Group Inc.'s conference call?

The webcast will be available on the company’s website at https://radian.com/who-we-are/for-investors/webcasts or at www.radian.com.