Standard & Poor’s affirms ratings on MBIA
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- August
- 15
Standard & Poor’s Rating Services yesterday affirmed its AA financial-strength rating of MBIA Inc., and removed the rating from credit watch negative.
S&P’s outlook for the troubled Armonk-based bond insurer is negative, S&P said.
“We assigned a negative outlook to MBIA due to its significant exposure to domestic nonprime mortgages and related exposures,†S&P credit analyst David Veno said in a statement.
Removal of the negative outlook, Veno said, “will depend on clarification of ultimate potential losses as well as future business prospects.â€
The possibility of new regulations and the outcome of MBIA’s business decisions are also factors, he said.
This entry was posted
on Friday, August 15th, 2008 at 12:07 pm by David Schepp.
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