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Article: MBIA Responds to Moody's Announcement.
- Article from:
- Business Wire
- Article date:
- December 6, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARMONK, N.Y. -- MBIA Inc. (NYSE: MBI), the holding company for MBIA Insurance Corporation, today issued the following statement in response to the announcement issued by Moody's Investors Service on Wednesday, December 5.
"We note Moody's announcement concerning financial guarantors. Contrary to some press reports, Moody's has not taken any rating actions with respect to MBIA. Moody's indicated that, similar to several other monoline insurers, MBIA is somewhat likely to require additional capital. The Company believes that maintaining a strong balance sheet and an adequate capital cushion is prudent. Therefore, the Company has been pursuing capital contingency ...