Standard & Poor's Affirms 'AA' Rating on MBIA (MBI) and Ambac (ABK)
More News related to ABK
- Ambac Financial Group, Inc. Eliminates Quarterly Dividend
- Ambac (ABK) Commutes $3.5B of CDO Exposure for Cash Settlement of $1B
- Ambac Commutes Approximately $3.5 Billion of CDO Exposure for Cash Settlement of $1 Billion
- Investors Suffering Stock Market Losses as a Result of Over-Concentrated Portfolios May Have Claims Against Their Brokers; the Law Firm of Stein, Stein & Pinsky, P.A. is Investigating
- Bill Ackman Says GM (GM) Should Go Bankrupt
More News related to MBI
- Charles R. Rinehart Elected to MBIA's Board of Directors
- Med BioGene Reports Financial Results for the Third Quarter 2008
- Investors Suffering Stock Market Losses as a Result of Over-Concentrated Portfolios May Have Claims Against Their Brokers; the Law Firm of Stein, Stein & Pinsky, P.A. is Investigating
- Bill Ackman Says GM (GM) Should Go Bankrupt
- MBIA Comments on Moody's Downgrade of MBIA's Insurance Financial Strength Rating to Baa1
More News related to Corporate News
- After-Hours Movers 12/05: Actuate (ACTU) Up On Higher Tender Offer, RF Micro (RFMD) Lower on Guidance
- Trading Radar for 12/05: Big Lots (BIG), Flow Int'l (FLOW), Blyth (BTH) Report; Nonfarm Payrolls, Unemployment Rate, Consumer Credit Due
- Unusual 11 Mid-Day Movers 12/04: DXCM, TLB, PRKR, PSS Higher; CRUS, DMND, ITWO, DDMX Lower
- Notable Analyst Rating Changes 12/04: AMZN, YRCW, GPN, TRI Upgraded; DMND, DOX, FMCN, ISIL Downgraded
- Morning Movers 12/04: Merck (MRK) Lower On Guidance, Amazon.com (AMZN) Higher On Upgrade
After the close, Standard & Poor's Ratings Services said today it affirmed its 'AA' financial strength ratings on both MBIA Insurance Corp. (NYSE: MBI) and Ambac Assurance Corp. (NYSE: ABK) and removed the ratings from CreditWatch Negative. The outlook on both companies is negative.
Standard & Poor's credit analyst David Veno said, "We assigned a negative outlook to MBIA due to its significant exposure to domestic nonprime mortgages and related exposures to collateralized debt obligations (CDO) of asset-backed securities (ABS)."
Related Categories
Corporate NewsTrader Talk
Stocks Mentioned
-0.13
+0.23Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
