Financial Guaranty Insurance Co., one of the market's four large bond insurers, was downgraded yesterday to A3 from Aaa by Moody's Investors Service, reflecting the rating agency's lingering doubts about FGIC's ability to raise capital and put forth a viable strategic plan.

The rating remains on review for possible downgrade.

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.