Moody's Investors Service downgraded the insurance financial strength rating of Mortgage Guaranty Insurance Co. to 'A1' from 'Aa2,' the insurance financial strength rating of MGIC Australia Pty Ltd to 'A2' from 'Aa2,' and the senior debt rating of their parent, MGIC Investment Corp., to 'Baa1' from 'A2.'

The rating outlook for these companies is negative.

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