MBIA to Restate Financial Statements for Last Six Years

Walker, Susanne
March 2005
Bond Buyer;3/9/2005, Vol. 351 Issue 32086, p40
Trade Publication
Reports on the announcement of MBIA Inc. that it would restate its financial statements for 1998 and subsequent years in Armonk, New York. Reflection of a third quarter incurred loss in the financial results of the insurance company; Aim of the restatement to correct the accounting treatment for two reinsurance agreements that MBIA entered into with Converium; Claim that the restatement would not imact the insurer or the triple-A ratings of its subsidiary MBIA Insurance Corp.


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