NEW YORK, Aug 14 (Reuters) - Standard & Poor's on Thursday said it is no
longer reviewing its ratings on the insurance arms of MBIA Inc S&P said in a statement.
"The negative outlook on Ambac reflects our view that the company's exposure
to domestic nonprime mortgages and related exposures to CDO of ABS has likely
damaged its franchise and that the company faces diminished new business flow,"
S&P added.
Both bond insurers lost their top "AAA" ratings in June due to losses the
companies are expected to take from insuring risky mortgage-backed debt.
(Reporting by Karen Brettell; Editing by Leslie Adler) Keywords:
BONDINSURERS RATING/SANDP
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