MBIA Q2 Earnings Call Highlights

Impact · against what's priced in

MBIA's results are marginally positive due to improved capital leverage and narrowed losses, but these are overshadowed by the failure of the PREPA settlement. The rejection of a $3 billion proposal by 90% of bondholders prolongs the company's primary liability risk and legal uncertainty.

MBI−0.20

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In context

While a narrowed GAAP net loss of $46 million and an improved leverage ratio of 21-to-1 are positive, the rejection of the $3 billion PREPA settlement by 90% of bondholders reinforces the long-term uncertainty surrounding the company's largest exposure.

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• forex▲700%
• earnings
• MBI
• bond restructuring
• capital ratios
• insurance
• litigation
• municipal bonds
• puerto rico