RALEIGH, N.C., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact), a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that Fitch Ratings ("Fitch") upgraded the insurance financial strength rating for our flagship insurance subsidiary, Enact Mortgage Insurance Corporation, to A from A-. Fitch also upgraded Enact's senior debt rating to BBB from BBB-. The outlook for both ratings is stable.
"The upgrades from Fitch reflect the progress we've made in strengthening our financial foundation and delivering on our strategic priorities, while continuing to effectively manage our risk and operate from a position of financial strength," said Rohit Gupta, Enact's Chief Executive Officer. "Looking ahead, we remain focused on executing against our strategy, supporting our partners and creating value for our stakeholders."
Additional information regarding the rating changes can be found in the full reports issued by Fitch.
About Enact Holdings, Inc.
Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.
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