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Moody's Downgrades XL Capital to A3Moody's Downgrades XL Capital To A3, Citing Erosion of Capital

XL Capital Assurance Inc. was downgraded by Moody's Investors Service yesterday to A3, from Aaa, based on the erosion of the monoline insurer's already weak capital cushion because of increased losses in the subprime mortgage-backed securities the insurer guarantees.

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