Movers: Ambac, MBIA, Verizon, Borders, Continental, Wal-Mart, BJ's Wholesale
S&P's Ratings Services (which operates separately from S&P Equity Research) downgrades Ambac Financial Group (ABK) and MBIA Inc.(MBI) to 'A' and 'A-' from 'AA' and 'AA-', respectively, and placed on them CreditWatch with negative implications. S&P Ratings also also lowers its financial strength ratings on Ambac Assurance Corp. and MBIA Insurance Corp. to 'AA' from 'AAA' and placed the ratings on CreditWatch with negative implications.
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