MBIA Inc. late Friday said it disagrees with Moody's methodology on capital modeling for mortgage-related losses after the ratings agency lowered the insurance financial strength of its subsidiary MBIA Insurance to Baa1 from A2. "We disagree with Moody's approach to capital modeling for mortgage-related losses, particularly its 'stress on stress' methodology. Nonetheless, the downgrade has very little direct impact on MBIA," said Chief Executive Jay Brown in a statement. The company also said it will meet its obligations fully and on time and that it has sufficient liquidity to meet termination payments due on its Guaranteed Investment Contracts triggered by the rating cut.

posted by _sia_ in stocks on Nov 7 7:46pm