Bloomberg reported today that Moody's Investors Service said deepening losses at MBIA Inc. and Ambac Financial Group Inc. may imperil their AAA credit ratings less than three months after affirming the top grade.
The two largest bond insurers recorded a total $6.7 billion of first-quarter charges for losses on home-equity loans and collateralized debt obligations, "elevating existing concerns about capitalization levels relative to the Aaa benchmark,'' Moody's said yesterday in a report.
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