Items Tagged with 'XL Financial Assurance Ltd.'

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  • Security Capital Cut to Junk by Fitch

    Beleaguered bond insurer Security Capital Assurance Ltd saw Fitch drop a core credit rating to junk status on Wednesday afternoon, a move that may further push the monoline's future into doubt. Fitch cut SCA's long-term issuer rating to 'B-' from 'BBB,' while also further downgrading the insurer financial strength ratings of SCA's primary insurance subsidiaries to 'BB' from a prior rating of 'A.'
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  • Cue the Losses: S&P Downgrades ACA Financial Guaranty to Junk

    On the heels of Moody's recent warning on major financial guarantors, Standard and Poor's said Wednesday that it has completed it's own review -- and promptly downgraded ACA Financial Guaranty Corp. to junk status, moving the guantor from an 'A' rating to 'CCC.' ACA guarantees $26 billion in mortgage-backed securities.
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