Bonds

MBIA, Ambac Hammered on News of Likely Downgrades 

The furor over monoline bond insurers reared its ugly head again Wednesday afternoon, with Moody’s Investors Service warning that it would likely downgrade both MBIA Inc. [stock MBI][/stock] and Ambac Financial Corp. [stock ABK][/stock] over concerns that each company’s deteriorating credit profiles no longer put them into Aaa-rated territory.