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MBIA falls deeper into junk status
26 June 2009
Moody's has cut the senior debt rating of bond insurer MBIA deeper into junk status, citing further expected portfolio deterioration and litigation surrounding MBIA's recent restructuring.
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[moody's]
[mbia]
[rating agency]
[junk]
Moody's has cut the senior debt rating of bond insurer MBIA deeper into junk status, citing further expected portfolio deterioration and litigation surrounding MBIA's recent restructuring.
The rating agency cut MBIA to Ba3 from Ba1, three notched below investment grade, and placed the rating on a negative outlook.
Additionally, Moody's confirmed the Baa1 rating of National Public Finance Guarantee Corporation, with a developing outlook.In February, Reactions...
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