NU Online News Service, March 28, 2:49 p.m. EDT
If bankers are able to upset the restructuring plan of MBIA that splits the company into two insurers, one MBIA entity would be helped, but it would probably harm the company as a whole, Moody's Investors Service says.
The rating agency makes this point in light of a recent report from four former New York State insurance superintendents who say the department violated its duty by allowing the insurer to split itself into two companies.
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