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$8.80 -1.11 (-11.20%)
10/7/2008 4:02 PM

MBIA, Inc. (MBI)

CAPS Rating:
*

The Company provides financial guarantee insurance and other forms of credit protection as well as investment management services to public finance and structured finance issuers and investors and capital market participants on a global basis.

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Avatar amteague777 (83.59) Submitted: 6/05/07 7:01 PM : Underperform Start Price: $63.78 MBI Score: 51.62

Significant exposure to subprime mortgages.MBIA has $24.7 billion of "high-risk" credit exposure, which includes direct subprime exposure and more indirect exposure through CDOs, Ackman's presentation said. The company's exposure to so-called mezzanine CDOs, with underlying collateral rated BBB or lower, was $5 billion at the end of 2006, which is 73.5% of its statutory capital, he added. (Info from Pershing Square Capital Mgmt Hedge Fund)


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