Fitch keeps MBIA ratings

Fitch Ratings said it decided to maintain debt ratings on MBIA Inc. and its subsidiaries for the foreseeable future.

The agency said it expects to maintain ratings as long as it believes that it can maintain a clear, well-supported credit view without access to certain non-public details concerning MBIA's insured portfolio, to which Fitch will no longer have access.

"We are disappointed that MBIA has requested that we withdraw our [insurer financial strength] ratings and that they have decided to stop providing us important non-public information about their portfolio," Stephen W. Joynt, president and chief executive officer of Fitch, said in a written statement.

"While we respect MBIA's decision not to provide us that information, we trust that they will respect our decision to continue to maintain a rating on MBIA, a company about which many investors are so clearly interested. The approach we are taking with MBIA is consistent with the approach we have taken in other similar situations."

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