Printer Friendly

S&P Upgrades MBIA, National Public Finance Guarantee.

Byline: Reuters

(Reuters) - Standard & Poor's Ratings Services on Wednesday raised the financial strength ratings of MBIA Insurance Corp and National Public Finance Guarantee Corp adding it may upgrade them further.

The rating action on MBIA - with a financial strength rating brought up to B from CCC - follows the $1.6 billion cash settlement with Bank of America announced on Monday, S&P said.

The rating agency also added that the financial strength rating for National Public Finance Guarantee Corp, which was raised to BBB from BB, reflects "the company's strengthened capital adequacy position and financial risk profile following MBIA Corp's repayment of the intercompany loan."
COPYRIGHT 2013 Summit Business Media
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Property and Casualty 360
Date:May 8, 2013
Words:105
Previous Article:An Underrated Supply-Chain Concern: Cyber Events.
Next Article:RMS Announces New Real-Time Risk Model.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters