Secondary Market/Investors
Fitch: MBIA Affirmed, Bond Issues Removed from Negative Watch
By PAUL JACKSON
January 16, 2008 9:17 PM CST
In contrast to competing rating agency Standard & Poor’s — who said today that it will review monline bond insurers for a second time — Fitch Ratings said late Wednesday that it had affirmed MBIA Insurance Corp. following a $1 billion surplus note offering.
Fitch placed MBIA’s ‘AAA’ insurer financial strength (IFS) rating on negative rating watch last month following the rating agency’s updated assessment into MBIA’s current exposure to CDOs backed by subprime mortgage collateral and various CDO-squared transactions, as well as the guarantor’s exposure to RMBS.
The affirmation at MBIA also led to a similar affirmation and removal of 172,979 bond issues (172,817 municipal, 156 corporate and six emerging market issues) insured by MBIA from a negative ratings watch, Fitch said in a seperate statement.
For more information, visit http://www.fitchratings.com.
Print This Article
recent stories by department
Origination/Lending
Secondary Market/Investors
Get your HW Fix
Join nearly 10,000 bold subscribers who already get our daily email delivered to their inbox -- it's free, and a great way to ensure you don't miss something.
Events
2009 Jul 09 -- 2009 Jul 10
USFN Legal Issues in Mortgage Servicing Seminar
Geared towards in-house counsel, designed to discuss current legal issues in the mortgage servicing industry and real estate finance. Closed event in Chicago, Ill.; for more information, visit www.usfn.org.
2009 Oct 04 -- 2009 Oct 05
IMN's 15th Annual ABS East
Hosted at the Foutainebleau Resort Miami Beach in Miami, FL, the theme of this year's event is "Navigating a Path to Recovery" and alludes to decisive actions by the government and industry leaders to set a course that will hopefully lead to a revived and robust US securitization market. For more information, visit www.img.org.
2009 Oct 20 -- 2009 Oct 21
RMBS: Assessing Value and Risk
This two-day course in Washington, DC will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
