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S&P cuts ACA to "CCC" junk, acts on 6 bond insurers
NEW YORK |
NEW YORK Dec 19 (Reuters) - Standard & Poor's cut its ratings on ACA Financial Guaranty Corp to junk as part of actions on six bond insurers on Wednesday.
S&P cut ACA's rating to "CCC," or eight levels below investment grade, from "A," the sixth-highest investment-grade rating. It also said it may cut Financial Guaranty Insurance Co's 'AAA' rating. (Reporting by Walden Siew; Editing by James Dalgleish)
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