TITLE

MBIA's Triple-A Safe Despite CDO Exposure, Merrill Says

AUTHOR(S)
Fine, Jacob
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/2/2003, Vol. 344 Issue 31606, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
MBIA Insurance Corp.'s triple-A credit quality is not in danger due to its exposure to collateralized debt obligations and credit default exchange, according to a Merrill Lynch & Co. report releasedin March 2003. �Given the monitoring systems, the strength of the balance sheet, the ample liquidity, and a track record of clever solutions to problems, we think the MBIA guarantee will remainstrong,� wrote John Hallacy, Merrill's managing director of municipal research and author of the report. The Merrill Lynch report followed a negative report from Fidelity Capital Markets Group, a broker-dealer subsidiary of mutual fund giant FMR Corp. that focused on the insurer's exposure to collateralized debt obligations and credit default exchange.
ACCESSION #
9837463

 

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