This has implications for MBIA, Ambac, and
other financial guarantors, since they guaranteed similar business.
MBIA Corp.'s ability to attract new business and to compete with
other financial guarantors has been adversely affected by these rating agency actions.
Not exact matches
Unfortunately, the
financial guarantors have had a tendency to reinsure each
other.
The
guarantor could be a commercial bank, credit union, brokerage firm, or
other financial institution that is a member of a medallion signature guarantee program approved by the Securities Transfer Association and the SEC.
MBIA Corp.'s ability to attract new business and to compete with
other triple - A rated
financial guarantors has been adversely affected by these rating agency actions.
MBIA Corp's ability to attract new business and to compete with
other triple - A rated
financial guarantors and its results of operations and
financial condition would be materially adversely affected by any actual reduction, or additional suggested possibility of a reduction, in its ratings.
MBIA Corp.'s ability to attract new business and to compete with
other triple - A rated
financial guarantors is largely dependent on the triple - A
financial strength ratings assigned to it by the major rating agencies and the
financial enhancement rating assigned by S&P.
MBIA Corp.'s ability to attract new business and to compete with
other triple - A rated
financial guarantors has been adversely affected by these ratings actions.
If at any time any member of the XYZ Limited group guarantees the obligations of any
other member of the XYZ Limited group in respect of
financial indebtedness, that
guarantor will also guarantee the obligations of XYZ Limited under XYZ bonds (for so long as the first - mentioned guarantee by the member of the XYZ Limited group remains in place).