Fitch Ratings affirmed the BBB long-term issuer default rating on Stewart Information Services Corp. and the A- long-term insurer financial strength ratings on its title insurance subsidiaries, Stewart Title Insurance Co. and Stewart Title Guaranty Co. Inc. The outlook is stable.
The rating agency also removed the ratings from Rating Watch Positive, attributed to the termination of its merger agreement with Fidelity National Financial Inc., which did not receive regulatory approvals from the Federal Trade Commission and the New York Department of Financial Services.
The affirmation reflects the company's strong risk and non-risk-adjusted capitalization metrics, favorable business profile and adequate operating results.
