With last week's AA-minus rating from Standard & Poor's and $39 million in fresh capital, Triad Guaranty Insurance Corp. is poised for a major expansion.

Triad's book of mortgage insurance has been limited in recent years because its lack of capital made a top-flight rating out of reach. "There have been a number of mortgage banks that won't do business with us, or limit the business they will do, without a rating," said William T. Ratliff 3d, chairman of the Winston-Salem. N.C., company.

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