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Article: Moody's Reviews MBIA's Ratings for Possible Downgrade; MBIA Expresses Surprise in Moody's Action In Light of Moody's Recent Public Statement on MBIA Capital Plan and its Aa2 Rating of MBIA's Surplus Notes.
- Article from:
- Business Wire
- Article date:
- January 18, 2008
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ARMONK, N.Y. -- MBIA Inc. (NYSE: MBI) announced that Moody's Investors Service yesterday placed the Aaa insurance financial strength ratings of MBIA Insurance Corporation ("MBIA" or the "Insurance Company") and its insurance affiliates, the Aa2 ratings of its newly issued Surplus Notes, and the Aa3 ratings of the junior obligations of the Insurance Company and the senior debt of MBIA Inc. on review for possible downgrade.
MBIA said that it was surprised by Moody's action in light of the rating agency's recent public statements on the Company's capital plan and last week's Aa2 rating of the Surplus Notes. MBIA reaffirms its intention to continue working towards ...