S&P states that an insurer rated "BB-" is less vulnerable in the near-term than other lower-rated obligors but faces major ongoing uncertainties to adverse business, financial and economic conditions.  The "BB-" rating is the thirteenth of 21 credit rating ranges assigned by S&P, which range from "AAA" to "D".

Moody's states that an insurer rated "Ba2" from its Global Rating Scale is judged to have speculative elements and is subject to substantial credit risk. The "Ba1" rating is the eleventh of 21 ratings assigned by Moody's which range from "Aaa" to "C".

A.M. Best states that an issuer rated "b+" has a marginal ability to meet its ongoing senior financial obligations and is vulnerable to adverse changes in industry and economic conditions. The "bb-" rating is the thirteenth-highest of 21 credit ratings assigned by A.M. Best, which range from "aaa" to "c".

Financial Strength Ratings (FSR)

The FSR of our principal life insurance subsidiaries are rated by A.M. Best as follows:

Genworth Life and Annuity Insurance Company, Genworth Life Insurance Company and Genworth Life Insurance Company of New York ratings do not apply to the safety or performance of underlying portfolios of variable products, which will fluctuate and could lose value.

The FSR of our mortgage insurance subsidiaries are rated by Standard & Poor's, Moody's, Fitch and A.M. Best as follows:

Genworth Seguros de Credito a la Vivienda S.A. de C.V. short term rating is “HR1” and long term rating is "HR AA" by HR Ratings on a Local Scale.

A.M. Best states that its "B-" is assigned to those companies that have a fair ability to meet their ongoing insurance obligations while "C++" is assigned to those companies that have a marginal ability to meet their ongoing insurance obligations. The "B-" and "C++" ratings are the eighth and ninth-highest of 13 ratings assigned by A.M. Best, which range from "A++" to "D".

S&P states that an insurer rated "A" has strong financial security characteristics. The "A" rating is the third-highest of nine financial strength rating ranges assigned by S&P, which range from "AAA" to "D". A plus (+) or minus (-) shows relative standing in a rating category. These suffixes are not added to ratings in the "AAA" category or to ratings below the "CCC" category. Accordingly, the "A-" rating is seventh-highest of S&P's 21 ratings categories.

Moody's states that insurance companies rated "A" offer good financial security. The "A" is the third-highest of nine financial strength rating ranges assigned by Moody's, which range from "Aaa" to "C." Numeric modifiers are used to refer to the ranking within the groups, with 1 being the highest and 3 being the lowest. These modifiers are not added to ratings in the "Aaa" category or to ratings below the "Caa" category. Accordingly, "A3" is the seventh-highest of Moody's 21 ratings categories.

Fitch states that “A” rated insurance companies are viewed as possessing strong capacity to meet policyholder and contract obligations. The “A” rating category is the third-highest of nine financial strength rating categories, which range from “AAA” to “C.” The symbol (+) or (-) may be appended to a rating to indicate the relative position of a credit within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “B” category. Accordingly, the “A-” rating is the seventh-highest of Fitch's 21 ratings categories.

We also solicit a rating from HR Ratings on a local scale for Genworth Seguros de Credito a la Vivienda S.A.de C.V., our Mexican mortgage insurance subsidiary, with a short-term rating of "HR1" and long-term rating of "HR AA". For short-term ratings, HR Ratings states that "HR1" rated companies are viewed as exhibiting high capacity for timely payment of debt obligations in the short term and maintain low credit risk. The "HR1" short-term rating category is the highest of six short-term rating categories, which range from "HR1" to "HR D". For long-term ratings, HR Ratings states that "HR AA" rated companies are viewed as having high credit quality and offer high safety for timely payment of debt obligations and maintain low credit risk under adverse economic scenarios. The "HR AA" long-term rating is the second-highest of HR Rating's eight long-term rating categories, which range from "HR AAA" to "HR D".