Fitch Places MBIA-Insured Australian Infrastructure Projects on Watch Negative
Concurrent with its related rating announcement yesterday on MBIA Inc. (MBIA) and its financial guaranty subsidiaries, Fitch Ratings has placed the following MBIA insured issues of Australian infrastructure projects on Rating Watch Negative. The underlying ratings of these infrastructure project debt obligations are not affected by this action.
Fitch placed MBIA’s ‘AA’ long-term rating and ‘AAA’ insurer financial strength (IFS) rating on Rating Watch Negative following the rating agency’s updated assessment into MBIA’s current exposure to SF CDOs backed by subprime mortgage collateral and various CDO-squared transactions, as well as MBIA’s exposure to RMBS.