DALLAS -The North Texas Tollway Authority last week closed on $3 billion of revenue bonds issued in March, including an agreement with MBIA Insurance Corp. to insure $373 million of fixed-rate debt shortly before the insurer was downgraded by Fitch Ratings.

Fitch on Friday dropped the insurer rating for MBIA to AA from AAA and the long-term rating of MBIA Inc., the parent holding company of MBIA Insurance, to A from AA, while maintaining a negative outlook.

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