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BRIEF-MBIA says as of March 31, 2017, had $855 mln of gross par outstanding on bonds relying on Puerto Rico's general obligation bonds
July 11, 2017 / 8:34 PM / 5 months ago

BRIEF-MBIA says as of March 31, 2017, had $855 mln of gross par outstanding on bonds relying on Puerto Rico's general obligation bonds

July 11 (Reuters) - MBIA Inc:

* MBIA Inc says as of March 31, 2017, had $855 million of gross par outstanding on bonds relying on puerto rico’s general obligation bonds - sec filing

* MBIA inc says as of march 31, 2017, had $684 million gross par ($1.1 billion, including accreted amounts) on the sales tax-backed “cofina” bonds

* MBIA inc says as of march 31, 2017, had $706 million gross par on bonds issued by the highway and transportation authority

* MBIA inc says as of march 31, 2017, had $255 million of gross par exposure to state of illinois general obligation bonds

* MBIA - expect to see loss, loss adjustment reserve increases in range of $250 million to $275 million for q2 due to recent developments in puerto rico

* MBIA inc says as of march 31, 2017, had $853 million gross par exposure ($1.5 billion, including accreted amounts) to chicago board of education bonds

* MBIA inc - “we also continue to coordinate and communicate with our primary regulator, the nysdfs, on a range of issues including puerto rico”

* MBIA says as of march 31, 2017, had $901 million ($1.2 billion, including accreted amounts) to city of chicago general obligation bonds

* MBIA inc says nysdfs recently completed triennial examinations for national and MBIA insurance corp, which this time covered the years 2012 – 2015

* MBIA inc says nysdfs made no adverse findings in the examinations for national and MBIA insurance

* MBIA inc says "we won't be actively pursuing new bond insurance business" Source text (bit.ly/2sN0NYj) Further company coverage:

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