Items Tagged with 'Dominic Frederico'


  • Moody's Eyes the Chopping Block for Monolines

    As the extent of the damage to monolines from deteriorating mortgage performance continues to unwind, at least one credit rating agency is busy again this week considering downgrades. Moody's Investors Service placed the Aa3 insurance financial strength ratings of monoline Financial Security Assurance on review for possible downgrade. The action comes as the firm's US insured mortgage portfolio continues to deteriorate, affecting its capital adequacy.
    Read More
  • Assured, FSA Lose AAA Ratings at Moody's

    And then there was one and none -- one, meaning only one remaining AAA-rated monoline bond guarantor; and none, meaning none of the guarantors that started 2008 rated AAA currently carry the rating at each major agency. Moody's Investors Service yanked its top ratings on both Assured Guaranty Ltd. and Dexia SA’s Financial Security Assurance Inc. on Friday, as a new criteria and industry outlook affected the core ratings at each firm.
    Read More
  • Feds May Be Considering Subsidy on Troubled Mortgages

    When it comes to the idea that Treasury's TARP funds may be used to manage a bailout of troubled mortgages, all options are still on the table, and the only thing that most of us really know is that the plans under consideration have been stuck in the negotiating room for some time.
    Read More
  • Assured Guaranty Takes Mark-to-Market Hit; Says New Business at Record Levels

    First, the bad news: Assured Guaranty said tonight that it will take a $163 million after-tax loss on financial guarantees written on credit default swap contracts when it reports its earnings next week. The guarantor said that 70 percent of its reported losses were driven by market-to-market activity, and that CDS net par outstanding stood at $62.3 billion as of the end of September. The good news is that business has never been better:
    Read More