Standard & Poor’s downgraded MBIA Inc. and its two principal bond insurer subsidiaries on Wednesday, citing new methodologies for assessing residential mortgage-backed securities.

National Public Finance Guarantee, the municipal bond insurer, was downgraded to BBB from A with a developing outlook. MBIA Insurance Corp. was downgraded to B from BB-plus, with a negative outlook.

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.