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MBIA'S NEW FRENCH SUBSIDIARY RECEIVES TRIPLE-A RATINGS

 MBIA'S NEW FRENCH SUBSIDIARY RECEIVES TRIPLE-A RATINGS
 ARMONK, N.Y., Dec. 3 /PRNewswire/ -- MBIA Inc., (NYSE: MBI) the nation's leading insurer of municipal bonds, announced today that its French insurance subsidiary, MBIA Assurance, S.A. has been rated Triple- A by Moody's Investors Service and Standard & Poor's Corporation. Formed in 1990 to develop innovative financial guarantee products in Europe, MBIA Assurance is the first monoline financial guarantor to be licensed on the Continent.
 "We expect that the next level of development of the European Economic Community will lead to changes in the way public finance is conducted in Europe, providing MBIA with access to new markets," said William O. Bailey, MBIA's chairman and chief executive officer. "With our French subsidiary, MBIA is positioned to capitalize on the evolution of a more global market for public finance and, in so doing, build a reputation as a major international financial guarantor."
 MBIA Assurance will offer credit enhancement for municipal borrowings, infrastructure financings, asset-backed securitization deals and financial institution obligations. Approximately 90 percent of the business underwritten by MBIA Assurance will be reinsured by MBIA Corporation. Headquartered in Paris, the subsidiary is headed up by Michael J. Maguire, managing director, who has more than 13 years' experience in the public finance and financial guarantee industries in the United States.
 MBIA Assurance offices are located at 7-11 Quai Andre-Citroen, 21st Floor, 75015 Paris, Cedex 15, France, telephone: 45-75-61-52, fax: 45-77-59-38.
 MBIA Corporation's principal business is insuring the timely payment of principal and interest on municipal bonds. Founded in 1973, MBIA was a pioneer in developing municipal bond insurance to produce interest cost savings for municipal issuers and added security for municipal bondholders. MBIA has insured over 23,000 municipal issues representing more than $87 billion in par value. The company has a claims-paying rating of Triple-A by Moody's Investors Service, Inc. and Standard & Poor's Corporation.
 -0- 12/3/91
 /CONTACT: Michael C. Ballinger, 914-765-3893, or Michael J. Maguire, (MBIA Assurance), 011-33-1-45-75-61-52, both of MBIA/
 (MBI) CO: MBIA, Inc. ST: New York IN: INS SU: RTG


KD-OS -- NY047 -- 8766 12/03/91 12:45 EST
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Publication:PR Newswire
Date:Dec 3, 1991
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