{"id":35565,"date":"2015-05-04T08:39:44","date_gmt":"2015-05-04T12:39:44","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=35565"},"modified":"2015-05-04T08:39:44","modified_gmt":"2015-05-04T12:39:44","slug":"genworth-financial-inc-nysegnw-ratings-under-review","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/genworth-financial-inc-nysegnw-ratings-under-review-35565","title":{"rendered":"Genworth Financial Inc (NYSE:GNW) Ratings Under Review"},"content":{"rendered":"<p style=\"text-align: justify;\">A.M. Best confirmed that it placed the financial strength <a href=\"http:\/\/finance.yahoo.com\/news\/m-best-places-ratings-genworth-203900082.html\">rating<\/a> and issuer credit ratings of <strong>Genworth Financial Inc (NYSE:GNW)<\/strong> and its subsidiaries under consideration with developing implications. The financial strength rating of the company stands at \u2018A-\u2018, excellent while the ICR of subsidiaries stands at \u00a0\u2018a-\u2018. Also, the ICR of \u201cBBB-\u201d of company and its existing debt ratings stands for review.<\/p>\n<p style=\"text-align: justify;\"><strong>The reasons<\/strong><\/p>\n<p style=\"text-align: justify;\">During its 1Q2015 earnings conference call, Genworth Financial stated it is evaluating market interest and assessing the benefits of liquidating its life and annuity businesses. The consideration has resulted in the recent actions. The under review status highlights the ambiguity related with the components and structure of a potential sale. In addition, A.M. Best\u2019s view of a sale of businesses that offers both diversifications to the unit and stable earnings would likely act as a credit negative. In case a transaction is accomplished, the impact of net proceeds has to be taken into account.<\/p>\n<p style=\"text-align: justify;\"><strong>The anticipation<\/strong><\/p>\n<p style=\"text-align: justify;\">Genworth\u2019s ratings are expected to remains under review until the conclusion of the strategic review announced earlier. It would be reviewed even if the company succeeds in finding a buyer for its life and annuity businesses. The company took hefty charges in 3Q and 4Q to support claims and other reserves.<\/p>\n<p style=\"text-align: justify;\"><strong>The expert view<\/strong><\/p>\n<p style=\"text-align: justify;\">Chief Executive Officer Thomas McInerney addressed investors and analysts during the insurer\u2019s 1Q earnings and disclosed that it is in the initial phases of talking to companies who might be interested to acquire the mentioned businesses. These are the segments where the company doesn\u2019t have a leading position. David Havens, a credit analyst stated that the annuities and life-insurance businesses have book values of merely over $4 billion. The company is open to a number of various options including going private. Genworth Financial Inc (NYSE:GNW) operates in a long-term care business which as per the CEO is complicated and challenging business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A.M. Best confirmed that it placed the financial strength rating and issuer credit ratings of Genworth Financial Inc (NYSE:GNW) and its subsidiaries under consideration with [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":19807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3416,3417,11376],"stock_ticker":[],"class_list":["post-35565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-genworth-financial-inc-nysegnw","tag-nysegnw","tag-thomas-mcinerney","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Genworth Financial Inc (NYSE:GNW) Ratings Under Review - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/genworth-financial-inc-nysegnw-ratings-under-review-35565\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genworth Financial Inc (NYSE:GNW) Ratings Under Review - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"A.M. 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