Even though MBIA Inc. asked Fitch Ratings to stop rating the firm, Fitch said today it will continue to do so as long as it has enough public information to make an evaluation.
In a statement released today, the rating service said it will maintain the financial strength and debt ratings of the Armonk, N.Y.-based insurer "for the foreseeable future." Fitch said it expects to be able to maintain the company's rating despite not having "access to certain nonpublic details concerning MBIA's insured portfolio," which it will no longer have access to.
In early February, Fitch placed MBIA on rating watch negative in response to losses and pressures the insurer sustained from the credit market crisis. A month later, MBIA requested Fitch stop rating the company and informed Fitch it would no longer have access to nonpublic information.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.