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Thursday, June 19, 2008

Moody's Downgrades MBIA and Ambac

by Calculated Risk on 6/19/2008 06:11:00 PM

Headlines and short story only now from MarketWatch:

Moody's downgrades MBIA to 'A2' from 'Aaa'
Moody's downgrades Ambac to 'Aa3' from 'Aaa'
Here come some more write downs for the banks associated with counterparties being downgraded.