Fitch warns of First American Corp. ratings downgrade

Expected title insurance losses cited as worry

Analysts at Fitch Ratings say it’s likely they’ll lower the ratings of First American Corp. and its title insurance companies by a notch once the company posts results for the year on Feb. 28.

In separate announcements last week, First American said it was spinning off its title insurance and related financial business into a separate company, and that it expected to report a $50 million fourth-quarter loss (see Inman News story).