(The following statement was released by the rating agency) NEW YORK, August 12 (Fitch) Subpar results posted last quarter has sent credit default swap (CDS) spreads on Genworth Financial Inc. to their widest results since earlier this year, according to the latest CDS case study from Fitch Solutions. Five-year CDS on Genworth have come out 56% over the past month, the widest levels seen since February. After pricing consistently in 'BBB-' space since April, the market is now pricing Genworth's credit risk in line with 'BB+' levels, or in speculative grade territory. 'In addition to its second quarter results, souring market sentiment for Genworth also seems to stem from their recent announcement that it will be reviewing the adequacy of its long-term care insurance claims reserves,' said Director Diana Allmendinger. Fitch Solutions case studies build on data from its CDS Pricing Service and proprietary quantitative models, including CDS Implied Ratings. These credit risk indicators are designed to provide real-time, market-based views of creditworthiness. As such, they can and often do reflect more short term market views on factors such as currencies, seasonal market effects and short-term technical influences. This is in contrast to Fitch Ratings' Issuer Default Ratings (IDRs), which are based on forward-looking fundamental credit analysis over an extended period of time. Additional information about Fitch Solutions' products is available in the link below: here detail=130 Contact: Diana Allmendinger Director +1 212-908-0848 Fitch Solutions, 33 Whitehall Street, New York, NY 10004 Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278, Email: firstname.lastname@example.org. Fitch Solutions, a division of the Fitch Group, focuses on the development of fixed-income products and services, bringing to market a wide range of data, analytical tools and related services. The division is also the distribution channel for Fitch Ratings content. Fitch Ratings and Fitch Solutions are part of the Fitch Group, a jointly-owned subsidiary of Fimalac, S.A. and Hearst Corporation. For additional information, please visit 'www.fitchsolutions.com'; 'www.fitchratings.com'; 'www.fimalac.com' and 'www.hearst.com'.