Financial Times FT.com

Monolines

Standard & Poor’s casts doubt on MBIA rating

By Aline van Duyn in New York

Published: February 1 2008 00:58 | Last updated: February 1 2008 01:17

Standard & Poor’s reignited fears about the financial strength of bond insurers on Thursday, warning it could cut the AAA credit rating of MBIA amid concerns that the company might not be able to boost its capital quickly enough to offset future losses.

“The magnitude of projected losses underscores our view that time is of the essence in the completion of capital-raising efforts,” S&P said in a statement, released after the stock market closed in New York.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this