BrokerageIndustry News

Fidelity closes LandAmerica deal

Fitch analysts issue downgrades
Published on Dec 23, 2008

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by CareyBot

Fidelity National Financial Inc. has closed a deal to acquire troubled LandAmerica Financial Group Inc.'s underwriting companies, making the company the nation's largest title insurance underwriter.

Analysts at Fitch Ratings promptly downgraded ratings on $500 million in debt issued by Fidelity and cut the insurer financial strength of the company's nine existing title insurance subsidiaries.

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