Assured, FSA Lose AAA Ratings at Moody’s

Housing Wire reports:

And then there was one and none — one, meaning only one remaining AAA-rated monoline bond guarantor; and none, meaning none of the guarantors that started 2008 rated AAA currently carry the rating at each major agency. Moody’s Investors Service yanked its top ratings on both Assured Guaranty Ltd. and Dexia SA’s Financial Security Assurance Inc. on Friday, as a new criteria and industry outlook affected the core ratings at each firm. Assured saw its insurer financial strength ratings dropped to Aa2 from Aaa, while FSA saw its ratings dropped one notch further, to Aa3.

Warren Buffett’s Berkshire Hathaway Assurance Corp. now stands as the only top-rated bond insurer at the rating agency.