Moody’s revises MBIA Mexico to developing

Moody's de Mexico said it changed the outlook of MBIA Mexico, SA de CV's to developing from negative, and affirmed its Caa1 global local currency and B3.mx national scale insurance financial strength ratings.

This action follows Moody's Investors Service's recently announced change of outlook of MBIA Insurance Corp.’s Caa1 insurance financial strength rating to developing from negative, on Dec 2.

Moody's said the developing outlook of MBIA Mexico's ratings reflects the recent change of MBIA Insurance’s outlook to developing from negative, given the strong linkages between both entities, which are evidenced by parental support from MBIA Insurance in the form of reinsurance agreements, technical oversight and a net worth maintenance agreement.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.