Moody’s Rates MBIA Mexico

Moody’s Investors Service has assigned Aaa ratings to insurance provider MBIA Mexico, based on the strength of parent MBIA Insurance Corp. and its importance to MBIA’s international expansion. Despite the parent’s operating in Mexico since 1994, new regulatory rules required the creation of a Mexico-licensed subsidiary, approved September 13. MBIA Mexico is expected to wrap the bond tranche of a $4.1bn FARAC toll road concession financing won by ICA and Goldman Sachs.