by Calculated Risk on 9/19/2008 02:44:00 PM

Lost in the shuffle, Moody's announced last night: Moody's places Ambac and MBIA on review for possible downgrade (no link)

Moody's Investors Service has placed the Aa3 insurance financial strength rating of Ambac Assurance Corporation (Ambac) and the A2 insurance financial strength rating of MBIA Insurance Corporation (MBIA) on review for possible downgrade. Today's rating action follows Moody's announcement of an upward revision to cumulative loss projections for subprime RMBS exposures ...

From MarketWatch: Ambac, MBIA fall as Moody's warns it may cut again