MBIA, Ambac grapple with subprime fallout
MBIA is bracing for more write-downs and Ambac has been given more time to justify its triple-A rating from Moody’s.
MBIA Inc. anticipates more write-downs, which will corrode first-quarter earnings, according to a filing with the Securities and Exchange Commission.
In the first two months of the year, the Armonk, N.Y.-based bond insurer observed widening market spreads, as well as credit downgrades of tranches i
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