Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, January 31, 2008

MBIA Reports $2.3 Billion Net Loss for Fourth Quarter

MBIA, the largest bond insurer, reported a $2.3 billion fourth quarter net loss and a $3.5 billion write-down of its credits derivatives portfolio.  Warburg Pincus purchased $500 million worth of stock to provide much-needed capital.  MBIA's triple-A credit rating, which is necessary to insure municipal bonds, may be at risk; Moody's is said to be reviewing it.  WSJ, Derivatives Write-Downs Hit MBIA

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