Subprime Exposure Cost FGIC Its Ratings

25 Mar 2009

Exposure to subprime mortgage, asset-backed securities and collateralized debt obligations have cost FGIC Corp. its ratings again.

Exposure to subprime mortgage, asset-backed securities and collateralized debt obligations have cost FGIC Corp. its ratings again. Moody’s Investors Service lowered its insurance financial strength ratings on two of the bond insurer’s unit two notches to Caa3, or highly speculative. The move comes after FGIC, once rated triple ...

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