Fidelity closes LandAmerica deal

Fitch analysts issue downgrades

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.