Oklahoma Issuers Dismayed By MBIA's Quiet 'Moratorium'

Helen Chang
January 2005
Bond Buyer;1/4/2005, Vol. 351 Issue 32042, p1
Trade Publication
The article reports that MBIA Insurance Corp. has withdrawn the $12.65 million municipal bond deal that has dismayed municipal bond issuers in Oklahoma. Despite the withdrawal, investors and others in the state say the market for Oklahoma bonds remains strong and projects are being funded. James Joseph, a state bond adviser in Oklahoma said that although MBIA insures roughly $2.7 billion of Oklahoma credits, it apparently implemented its freeze on underwriting credits in the state without notice to its Oklahoma customers.


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