Bond insurer MBIA Inc. said it has raised $1.1 billion through a common stock offering, increasing its claims-paying resources by as much as $3.2 billion in about two months.
However, rating agencies have indicated that their outlook on MBIA would not be altered by this announcement alone and would depend on how future events unfold.
MBIA, the nation's largest bond insurer, based in Armonk, N.Y., announced last week that it would attempt to raise $750 million through the offering. The firm said that it sold 94.6 million shares of its common stock at $12.15 per share.
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