Standard & Poor’s Ratings Services said it lowered its counterparty credit and financial strength ratings today for Triad Guaranty Insurance Corp., citing the bond insurer’s “significant operating losses.”

The firm said it had dropped Triad, which was placed on CreditWatch last month, to “triple-B” from “double-A-minus.” At the same time, S&P lowered its counterparty credit rating on Triad Guaranty Inc. to “double-B” from “A-minus.” All of the ratings remain on CreditWatch with negative implications.

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