Standard & Poor’s today downgraded to 'BB' from 'BBB-' the financial strength, financial enhancement, and corporate credit ratings of bond insurer Radian Asset Assurance. Radian will remain on negative watch.

S&P, which last downgraded Radian Asset Assurance by two notches in early April, said in a press release that the New York-based monoline “has significant exposure to several asset classes that have experienced deterioration and higher capital charges and that could result in losses.”

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