Bond Insurer Cushions Adequate for Puerto Rico Losses, S&P Says
Assured has a capital cushion of $450 million to $500 million against exposure of $5.5 billion and MBIA’s National Public Finance Guarantee Corp. has $350 million to $400 million versus exposure of $5.3 billion, S&P credit analysts Marc Cohen and David Veno in New York wrote in a report dated today. That’s consistent with a BBB rating, or two levels above speculative grade, they wrote.
To contact the reporter on this story: Mary Childs in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Alan Goldstein at email@example.com