Financial analysts are unfazed by Moody's Investors Service's downgrade of MBIA and National Public Finance Guarantee Corp. (NPFG).

On Monday, Moody's announced a downgrade of MBIA to 'B2' from 'Ba3' and the insurance financial-strength rating of NPFG to 'Baa2' from 'Baa1'. It also changed the outlook for NPFG to negative from developing.

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