Moody's Investors Service yesterday affirmed the insurer financial strength rating for MBIA Insurance Corp. at Aaa, removed the credit from negative watch, and assigned a negative outlook.

Moody's had the bond insurer on review for possible downgrade, but yesterday's rating actions reflect MBIA's efforts to improve its capital position and alter its business structure to reduce the volatility associated with its insured portfolio, Moody's said.

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