MBIA and Ambac downgraded by S&P
The bond insurers are also facing downgrades from Moody's Investors Service.
MBIA Insurance Corp. and Ambac Assurance Corp., both of New York, had their financial strength ratings downgraded to AA by Standard and Poor's today.
The bond insurers were also placed on CreditWatch with negative implications. Previously, both were AAA-rated.
A combination of the crumbling U.S.
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