A rating service said yesterday that total projected losses for the bond insurance industry are now 20 percent higher than when it reviewed companies last month.
Standard & Poor's Ratings Service's findings came in an announcement that it has updated the results of its bond insurance stress test, originally published Dec. 19, to incorporate revised assumptions announced Jan. 15 by S&P's RMBS (residential mortgage backed securities) surveillance group.
The new results, S&P said, show individual company increases ranged from a low of 2 percent to a high of 36 percent. Standard & Poor's has not taken rating action on any company at this time.
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