December 10, 2007 / 3:24 PM / 12 years ago

MBIA may be raising $1 billion in financing-CNBC

NEW YORK, Dec 10 (Reuters) - MBIA Inc (MBI.N), the world’s largest bond insurer, may be raising up to $1 billion in new capital, possibly from a private equity firm, television channel CNBC reported on Monday, citing unnamed sources.

Trading in MBIA on the New York Stock Exchange was halted pending an announcement.

MBIA and rivals like Ambac Financial Group ABK.N face serious concerns about their financial condition due to the turmoil in the credit markets, (Reporting by Dane Hamilton; editing by John Wallace) (Reuters messaging: dane.hamilton.reuters.com@reuters.net. 646 223 6000))

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