Its ratings for MGIC and PMI remain on review for possible further downgrading. PMI said it "has significant financial resources to pay insurance claims on defaulted loans" and that it "continues to work closely with each of the ratings agencies to communicate its financial strength, capital plan, and value proposition." Fitch also placed its 'AA' mortgage insurance rating for Genworth Financial in Richmond, Va., on watch for downgrading and cut its mortgage insurance rating for Old Republic International Corp. in Chicago to AA-minus, from 'AA', and placed it on watch for downgrading. The ratings agency said it considered the support those two get from parent companies that have business lines other than mortgage insurance.