Radian Amendment to Credit Agreement Declared Effective

Radian Group Inc. (NYSE:RDN) announced that it has satisfied all outstanding closing conditions of the first amendment to its revolving credit facility. The amendment, as previously reported on April 30, 2008, permanently eliminates the ratings covenant included in the original facility and provides Radian with greater flexibility with respect to the minimum net worth that it must maintain. In return, Radian agreed to certain other conditions and covenants, including to secure the facility and reduce the commitment size from $400 million to $250 million, with further reductions to $150 million to take place if certain repayment events occur. The bank group remains unchanged with Key Bank...

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