CHRONOLOGY: Bond insurers' ratings

NEW YORK (Reuters) - Troubles in the $2.4 trillion bond insurance industry appeared to be easing on Tuesday after Moody's Investors Service ended its downgrade review on MBIA Inc's (MBI.N) insurance arm, following a similar move by Standard & Poor's on Monday.

The outlook for the top "AAA" ratings of MBIA, the largest bond insurer, is negative by both ratings agencies, indicating a ratings downgrade is still possible over the next one to two years.

The "AAA ratings of Ambac Financial Group's (ABK.N) insurance arm, the second-largest bond insurer, remain on review for downgrade because of uncertainty about its risk profile and capital plans for a new corporate structure being contemplated," S&P said.

Moody's also continues to have Ambac on review for downgrade.

Downgrades would be a serious blow for bond insurers, which need top ratings to win business, as well as for banks and brokers that entered credit derivatives deals with the insurers. Financial institutions could face an additional $70 billion of write-downs if the insurers' ratings are cut, Oppenheimer & Co. has estimated.

Following is a chronology of recent ratings actions on bond insurers and ratings still under review for possible downgrades: MBIA Inc's MBIA Insurance Corp

February 26 - Moody's removes Aaa rating from review for downgrade, assigns negative outlook

February 25 - S&P removes AAA rating from review for downgrade, assigns negative outlook February 5 - Fitch puts AAA rating on review for downgrade January 31 - S&P puts AAA rating on review for downgrade January 17 - Moody's puts Aaa rating on review for downgrade January 16 - Fitch affirms AAA rating with stable outlook December 19 - S&P changes outlook on AAA rating to negative from

stable December 14 - Moody's affirms Aaa rating, changes outlook to

negative from stable Ambac Financial Group's Ambac Assurance Corp February 25 - S&P affirms, leaves on review for downgrade January 18 - Fitch cuts AAA rating to AA January 18 - S&P puts AAA rating on review for downgrade January 16 - Moody's puts Aaa rating on review for downgrade December 14 - Moody's affirms Aaa rating with stable outlook Dexia's (DEXI.BR) Financial Security Assurance (FSA) January 24 - Fitch affirms AAA rating with stable outlook December 19 - S&P affirms AAA rating with stable outlook December 14 - Moody's affirms Aaa rating with stable outlook FGIC Corp's Financial Guaranty Insurance Co February 25 - S&P cuts AA rating to A, on review with developing implications February 14 - Moody's cuts AAA to A3 January 31 - S&P cuts AAA rating to AA January 30 - Fitch cuts AAA rating to AA December 19 - S&P puts AAA rating on review for downgrade December 17 - Fitch puts AAA rating on review for downgrade December 14 - Moody's puts Aaa rating on review for downgrade Assured Guaranty Ltd's (AGO.N) Assured Corp December 19 - S&P affirms AAA rating with stable outlook December 14 - Moody's affirms Aaa rating with stable outlook December 12 - Fitch affirms AAA rating with stable outlook Security Capital Assurance's SCA.N XL Capital Assurance Feb 25 - S&P cuts AAA rating six notches to A-minus, remains on review for downgrade February 7 - Moody's cuts AAA rating six notches to A3 January 31 - S&P puts AAA rating on review for downgrade January 24 - Fitch cuts to A from AAA December 19 - S&P changes outlook on AAA rating to negative

from stable December 14 - Moody's puts Aaa rating on review for downgrade Radian Group Inc.'s (RDN.N) Radian Asset Assurance December 19 - S&P affirms AA rating with stable outlook December 14 - Moody's affirms Aa3 rating with stable outlook September 5 - Fitch downgrades to A-plus from AA Banque Populaire and Caisse d'Epargne's CIFG Guaranty February 25 - S&P affirms, retains negative outlook February 22 - Moody's puts Aaa rating on review for downgrade February 5 - Fitch puts AAA rating on review for downgrade December 19 - S&P affirms AAA rating with negative outlook December 14 - Moody's affirms Aaa rating, changes outlook to

negative from stable November 22 - Fitch affirms AAA rating with stable outlook ACA Capital Holdings' ACAH.PK ACA Financial Guaranty Corp December 19 - S&P cuts to CCC from A (Reporting by Dena Aubin, Neil Shah and Karen Brettell; editing by Tom Hals)