2008-06
20 23:21:02MBIA comments on Moody's downgrade; sees $2.9B in potential payments
SAN FRANCISCO (Thomson Financial) - MBIA Inc. said late Friday that as a result of Moody's downgrade of MBIA Insurance Corp.s insurance financial strength rating, MBIA expects that it will need $2.9 billion to satisfy potential termination payments under guaranteed investment contracts [GIC].