Standard & Poor's Ratings Services said it has affirmed the "double-A" financial strength ratings on both MBIA Insurance Corp. and Ambac Assurance Corp.
The ratings on both bond insurers were removed from the S&P's rating watch negative, but the outlook on both companies was deemed negative.
"We assigned a negative outlook to MBIA due to its significant exposure to domestic nonprime mortgages and related exposures to collateralized debt obligations (CDO) of asset-backed securities (ABS)," S&P's credit analyst David Veno said in a statement.
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