Fitch Cuts Insurer Down To CCC

Fitch Ratings has downgraded CIFG Guaranty and its North American and European affiliates’ insurer strength to CCC from A- following indications that the company might fall below minimum regulatory capital requirements.

  • 03 Jun 2008

-- Leo Shvartsman

Fitch Ratings has downgraded CIFG Guaranty and its North American and European affiliates’ insurer strength to CCC from A- following indications that the company might fall below minimum regulatory capital requirements. Such a scenario, coupled with increased loss provisions, could trigger insolvency proceedings by regulators, which ...

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