Municipal Bonds FMSbonds.com: Tax-free Bond Specialists -MBIA CUTS DIVIDEND TO HELP SECURE “AAA” RATING

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MBIA CUTS DIVIDEND TO HELP SECURE “AAA” RATING

MBIA announced it would cut the quarterly dividend on its common stock to 13 cents from 34 cents per share, a move that is expected to save the company more than $80 million annually and help maintain its “AAA” rating.

“We are committed to the successful implementation of this comprehensive plan to significantly strengthen our capital position and secure our ‘AAA’ rating without qualification,” said Gary Dunton, MBIA’s Chairman and CEO.

The Armonk, New York-based insurer expects to post a $737 million loss for the fourth quarter of 2007.

As we have previously mentioned “Don’t Lose Sleep Over Bond Insurers’ Woes”, most of the issues insured by MBIA have an investment grade rating of their own and are not dependent on insurance to make timely payment of principal and interest.

01/09/2008

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MBIA CUTS DIVIDEND TO HELP SECURE “AAA” RATING

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