Financial guarantors suffer ratings actions

Rating agency Moody’s has placed bond insurers Financial Guaranty Insurance Company and XL Capital Assurance on review for possible downgrade. The agency also affirmed the ratings of MBIA and CIFG, but changed their outlooks to negative.

The Moody’s announcements follow its reassessment of the insurers’ capital adequacy. That capital adequacy has been reassessed in light of higher expected losses from credit enhancement provided to residential mortgage-backed securities and collateralised debt o

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