MBIA to Sell Stock in Effort to Ensure AAA Bond Rating
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The bond insurance company MBIA said on Wednesday that it planned to sell $750 million in common stock as it tries to maintain its crucial AAA credit rating.
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NEW YORK -- Billionaire investor Warren Buffett said Tuesday he has offered to help out troubled bond insurers by offering a second level of insurance on up to $800 billion in municipal bonds.
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MBIA said it would sell $1 billion of debt to preserve capital and the triple-A ratings it needs to operate in a mortgage market under siege.
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Standard & Poor's on Wednesday slashed its outlook for bond insurers Ambac Financial Group, MBIA Insurance Corp and XL Capital Assurance, indicating their triple-A credit ratings were at heightened risk of being cut in the next two years due to deteriorating mortgage debt.
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The company may be hinting at going public.
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Investors in the market for mutual funds may want to consider a promising alternative: shares of asset management companies that sell the funds.
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The Securities and Exchange Commission is considering a civil action against American International Group Inc. and its AIG Financial Products Corp.
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New rules aim to keep brokerages on the straight and narrow.
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MBIA Inc  plans to urge lawmakers and regulators to curtail what the bond insurer calls "the unscrupulous and dangerous market manipulation activities of short sellers," according to a copy of written testimony obtained by Reuters.
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Ritchie Capital Management is said to be close to an agreement to sell the assets in its flagship multi-strategy fund for about $1 billion.
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WASHINGTON: Companies selling stock to the American public would be allowed to talk much more freely about it, and even advertise, under a proposal given preliminary approval on Tuesday by federal regulators.
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The CAPS community wants to insure some nice returns from this stock.
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WASHINGTON, Jan. 29  â MBIA, the large insurer of municipal bonds, has agreed to pay $75 million to settle civil securities-fraud charges by federal and New York State authorities over what they said was a sham $170 million transaction in 1998, the company and regulators announced Monday.
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Sallie Mae said on Wednesday that it  plans to sell about $2.5 billion of stock and mandatory  convertible securities to help pay off obligations linked to  the student loan company's share buyback program.
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Standard & Poor's on Thursday cut its  "AAA" ratings on FGIC Corp's bond insurance arm, and placed its  top ratings on the bond insurance arm of MBIA Inc  on  review for downgrade.
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Dow component AIG says SEC staff may recommend action against it related to past transactions. NEW YORK (CNN/Money) - Insurer American International Group Inc.
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MBIA Inc  plans to urge  lawmakers and regulators to curtail what the bond insurer calls  "the unscrupulous and dangerous market manipulation activities  of short sellers," according to a copy of written testimony  obtained by Reuters.