MBIA (MBI) Affirms Entering MBS Settlement with BofA (BAC)
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S&P May Raises Financial Strength Rating on MBIA (MBI) to 'B'; Outlook Positive
May 8, 2013 2:02 PM EDTStandard & Poor's Ratings Services said that it raised its financial strength rating on MBIA Insurance Corp. (NYSE: MBI) to 'B' from 'CCC'. The outlook is stable. At the same time, we raised our financial strength rating on National Public Finance Guarantee Corp. (National) to 'BBB' from 'BB' and the stand-alone credit profile to 'a' from 'bb'. We placed our rating on National on CreditWatch Positive. We also placed our 'B-' long-term counterparty credit rating on MBIA Inc. on CreditWatch Positive.
"Our rating action on MBIA Corp. reflects our view that potential stress on... More
MBIA (MBI) Settlement Modest Positive for Bank of America (BAC)
May 7, 2013 3:45 PM EDTGoldman Sachs maintained a Neutral rating on Bank of America (NYSE: BAC) with a price target of $12.50. Yesterday Bank of America and MBIA (NYSE: MBI) reached a settlement resolving outstanding rep & warranty and other claims. Analyst Richard Ramsden views the... More
Bank of America (BAC) Past the Worst of Mortgage Mess - Evercore Partners
May 7, 2013 7:00 AM EDTEvercore Partners Andrew Marquardt reiterated an Overweight rating and $14 price target on Bank of America (NYSE: BAC) following the announced settlement with MBIA.
The firm notes while there are lingering rep/warranty costs that are likely to remain elevated, Bank of America is... More
MBIA, Inc. (MBI) trading halted with news pending
May 6, 2013 3:38 PM EDTMBIA, Inc. (NYSE: MBI) trading halted with news pending.... More
BofA (BAC) to Take 5% Stake in MBIA (MBI); Mortgage Putback Litigation Will be Dismissed
May 6, 2013 12:09 PM EDT(Updated - May 6, 2013 12:13 PM EDT)
Bank of America (NYSE: BAC) to take 5 percent stake in MBIA, Inc. (NYSE: MBI).
According to Dow Jones, BofA will give MBIA about $1.65 billion in cash and extend a $500... More
