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Article: S&P and Moody's Reaffirm MBIA's Triple-A Ratings; MBIA CEO Comments on Affirmations.
- Article from:
- Business Wire
- Article date:
- February 26, 2008
CopyrightCOPYRIGHT 2008 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 (NYSE:MBI) today released a statement regarding the recent rating actions by Standard and Poors and Moody's Investors Service. "We are very pleased that Moody's has now joined Standard & Poors in affirming our Triple-A rating, adding to the growing confidence among our shareholders and issuers that MBIA continues to play a vital role in the bond market," said Jay Brown, Chairman and Chief Executive Officer of MBIA. "This reaffirmation is a major step in our five-year transformation plan."
"MBIA's claims paying resources are many multiples of our estimated loss exposure," Mr. Brown stated. "In fact, the entire U.S. mortgage market would have ...