Fitch Ratings said it is withdrawing its ratings on two mortgage insurers after it said it would no longer have access to substantive, nonpublic information about the companies.
The rating service said it will withdraw all of its outstanding ratings on MBIA Inc. and Ambac Financial Group Inc. and all related entities. It will list ratings of primary obligors for bonds where Fitch maintains coverage.
The action was taken after management at the two insurers decided to no longer provide “substantive, nonpublic portfolio information” for Fitch's capital analysis model and discontinued discussions with Fitch analysts, the rating service said.
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