BeaconEquity.com announces the publication of ‘MBIA Inc. (MBI): An Embattled Bond Insurer on the Rise’
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MBIA Inc. (MBI): An Embattled Bond Insurer on the Rise
”Faring the credit storm, financial services company MBIA Inc. (MBI) today announced its insurance subsidiary, MBIA Insurance Corp. (MBIA), has agreed to reinsure a portfolio of U.S. public finance bonds insured by Financial Guaranty Insurance Company, netting about $741 million in the deal…
“The credit crunch has taken its toll on the financials significantly; just like other bond insurers, MBIA had to endure collateralized debt obligations linked to mortgages that have plunged in value - pressing them with higher claims from CDOs and other debt instruments…
“Just two months earlier, two of the most widely used rating agencies, Moody's and Standard & Poor's, decided to downgrade MBIA's insurance financial strength rating - which translates to a loss of value on the bonds it insures…”
To read the entire article visit http://www.beaconequity.com/m – Click on News and Commentary
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