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Moody’s Downgrades MBIA as Insurer Battles with Bank of America

Bond insurer MBIA appears to be in a fight for its life after Moodys downgraded the companys credit rating to speculative status.

By Mark E. Ruquet | Updated on November 21, 2012

Bond insurer MBIA appears to be in a fight for its life after Moody’s downgraded the company’s credit rating to speculative status.

The decision follows a week of strategic moves in which MBIA sought to protect its solvency by making changes in its bond agreements. Bank of America had announced it wanted to buy the bonds to prevent the changes.

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