Moody's Investors Service last Tuesday said the ratings for the bond insurers could be significantly affected by their exposure to second-lien RMBS losses, which are higher than the rating agency expected.

"This could have material implications for the estimated capital adequacy of financial guarantors most exposed to this risk," wrote Stanislas Rouyer, Moody's senior vice president in the bond insurance group.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.