"First Financial Daily" from Fitch Ratings yesterday received two e-mail, covering the beginning of this month the world's largest bond insurer MBIA global demand, one of the three major rating agency Fitch ratings, to stop the MBIA insurance financial strength ratings.
Ciji Zhai after the outbreak of the crisis, because a lot of underwriting Ciji Zhai, the U.S. bond insurer faced huge claims. Many bond insurer is facing a AAA rating was lowered the risk. Once they lose their AAA rating, will not be able to carry out a new business, and they have affected the level of the bond contract.
Bond insurers have already started "to defend the war", MBIA2 the end of that suspended coverage of all new structured finance business, the company also intends to five years in the public bond insurance and structured finance business, left to.
MBIA CEO Joseph Brown in the February 27, is expected to Moody's Investors Service and Standard & Poor's rating agencies such as the longest in 18 months time, its rating will not take any action.
Three international rating companies, only Fitch still consider lowering the rating of MBIA. March 7, MBIA accused of capital Fitch ratings model unreasonable demands lifting of Fitch's rating and March 8, no longer to provide a wide range of Fitch ratings for the company private information
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