S&P Global Ratings said it lowered its financial strength rating on National Public Finance Guarantee Corp. (National) to A from AA-minus and its long-term counterparty credit rating on MBIA Inc. to BBB from A-minus.
S&P also removed the ratings on these issuers from CreditWatch Negative where they were placed on June 6.
The outlooks are stable.
S&P affirmed its AA financial strength rating on Build America Mutual Assurance Co. (BAM) and removed it from CreditWatch Negative where it was placed it June 6. The outlook is stable.
It affirmed its A long-term counterparty credit rating on Assured Guaranty Ltd. (AGL) and its AA financial strength ratings on its bond insurance subsidiaries (collectively Assured). The outlooks are stable.
It affirmed its CCC financial strength rating on MBIA Insurance Corp. (MBIA Corp) and revised the outlook to stable from negative. It is also withdrawing the D rating on MBIA Corp.'s surplus notes and preferred stock.
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