As the monoline bonds insurers work to keep or regain their triple-A ratings, the capital models employed by the rating agencies have come into ever greater focus and, in some cases, led the insurers to ask for the withdrawal of the ratings tied to those models.

On Friday, MBIA Inc. asked Fitch Ratings to remove its insurer financial strength rating for six subsidiaries, including its financial guarantor, MBIA Insurance Corp. MBIA said market dynamics have elevated the IFS ratings beyond the guarantees they are meant to provide and made the volatility of Fitch's rating a liability for the bond insurer.

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