by Calculated Risk on 11/07/2008 05:57:00 PM

From Reuters: Moody's cuts MBIA Insurance to "Baa1"

Moody's Investors Service on Friday cut its ratings on MBIA insurance arm and also sent ratings on the holding company's debt into junk territory, citing diminished business prospects and a weaker financial profile.

This follows a rating cut for AMBAC earlier this week.