S&P affirms, withdraws MBIA

S&P said it affirmed the BBB long-term issuer credit rating on MBIA Inc. and subsequently withdrew its ratings at the issuer's request.

The agency said the rating on MBIA reflects its structural subordination to its regulated operating subsidiaries, specifically National Public Finance Guarantee Corp.

The rating also reflects a view of the company's small capital base relative to the risk of its insured portfolio, poor operating performance, which is expected to continue, and potential continued liquidity stress.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.