PMI says to delay results due to FGIC

Wed Feb 20, 2008 10:48pm EST
 
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NEW YORK, Feb 20 (Reuters) - Mortgage insurer PMI Group Inc (PMI.N: Quote, Profile, Research, Stock Buzz) said on Wednesday it was postponing the release of its financial results due to delays in obtaining fourth-quarter results from bond insurer FGIC Corp.

PMI is one of the bond insurer's owners. Others include private equity firms Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), Cypress Group and CIVC Partners LP.

PMI said it would provide fourth-quarter and full-year financial results and reschedule an earnings conference call as soon as FGIC's results were known.

It said although fourth-quarter results for its U.S. mortgage insurance operations and international operations were complete, final results had to be obtained from FGIC.

FGIC Corp, which has lost its top credit ratings, has told New York regulators it wants to split into two companies. (Reporting by Paritosh Bansal; Editing by Valerie Lee)

 

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