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4 years ago
S&P ups National Public Finance financial strength rating to A
May 10, 2013 / 6:51 PM / 4 years ago

S&P ups National Public Finance financial strength rating to A

May 10 (Reuters) - Standard & Poor's Ratings Services on Friday raised National Public Finance Guarantee Corp's financial strength rating to A from BBB and removed the rating from CreditWatch Positive.

As the litigation with 18 banks over the transformation of the group is over, "we no longer anchor our rating on National Public Finance Guarantee Corp on MBIA," S&P said.

The ratings agency also raised MBI Inc's counterparty credit rating to BBB from B-minus - now at investment-grade level.

On Wednesday, S&P raised National Public Finance Guarantee Corp's financial strength rating to BBB from BB.

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