Fitch Rating Service said there will be no change in the rating of MBIA Insurance Corp. or MBIA Inc. after MBIA announced Friday that it received a "Wells Notice" from the Securities & Exchange Commission.
The "triple-A" financial strength rating of MBIA Insurance and "double-A" long-term debt rating of MBIA Inc. remained unchanged, Fitch in New York said. The rating outlook remains stable, Fitch added.
On Friday, MBIA said the Wells Notice concerned the retroactive reinsurance of losses incurred from the Allegheny Health, Education and Research Foundation (AHERF) bonds MBIA guaranteed and entered into excess of loss agreements and quota share agreements with three separate counterparts.
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