Fitch Ratings Friday knocked the insurer financial strength rating for CIFG Assurance NA 11 notches to junk, dropping it to CCC from A-minus. The rating is on evolving watch.

The downgrade comes little more than a week after Moody's Investors Service took similar action on the bond insurer, sending its rating to Ba2, also junk status.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.