Fitch Cuts FGIC to AA, Leaves on Watch Negative List (Update)
Fitch says the downgrade is based on FGIC’s failure to raise capital or implement risk mitigation procedures. The 4th-largest bond insurer has a $1.3bln capital deficiency, Fitch said.
Fitch says the downgrade is based on FGIC’s failure to raise capital or implement risk mitigation procedures. The 4th-largest bond insurer has a $1.3bln capital deficiency, Fitch said.