These reports are provided as a courtesy and do not necessarily reflect the opinion of MBIA Inc. The listed reports do not include all the rating agency reports relating to our business published between the indicated dates. MBIA Inc. undertakes no obligation to post updates. Further questions or requests for additional reports should be directed to Moody’s or S&P.

• 05/10/13: S&P Research Update: National Public Finance Guarantee Corp. Upgraded To 'A', MBIA Inc. To 'BBB'
• 05/08/13: S&P: MBIA Inc. Placed on CreditWatch Positive; Subsidiaries Upgraded
• 05/08/13: Moody's comment on MBIA's Comprehensive Settlement with Bank of America is Credit Positive
• 04/18/13: Moody’s Credit Opinion: MBIA Insurance Corp.
• 03/21/13: Moody’s reviews for downgrade the rating of MBIA Inc. and of its lead insurance subsidiaries
• 02/28/13: S&P: MBIA Inc. 'B-' Rating Affirmed, Subsidiary Ratings Lowered, As Liquidity And Financial Risk Profiles Weaken
• 11/26/2012: Moody's Credit Opinion: MBIA Inc. and MBIA Insurance Corp.
• 11/19/2012: Moody's downgrades MBIA Insurance Corporation to 'Caa2' and MBIA Inc. to 'Caa1'
• 11/07/2012: Moody's Comment on MBIA's Consent Solicitation
• 11/07/2012: S&P: MBIA Inc. Rating Unaffected By Proposed Changes To Company's Senior Debt Indentures
• 07/23/2012: S&P Report: The U.S. Bond Insurance Industry Is On A Path To Reemergence, But Of A Different Profile
• 06/21/2012: S&P Report: MBIA Insurance Corp.
• 08/25/2011: S&P Bond Insurance rating Methodology and Assumptions
• 06/22/2011: S&P Report – MBIA Inc. and MBIA Insurance Corp.
• 03/08/2011: Moody's Comments on MBIA's Fourth Quarter Earnings
• 03/05/2010: Moody's Comments on MBIA's Fourth Quarter Earnings and Ongoing Litigations
• 02/2010: Moody's Report - Financial Guaranty Insurance Industry 2009 Review and 2010 Outlook
• 09/17/2009: S&P Report: Mortgage Related Losses Aren’t Over for Bond Insurers
• 08/24/2009: S&P: Methodology: The Interaction of Bond Insurance And Credit Ratings
• 11/19/2008: S&P: MBIA 'AA' Rating Assigned To FGIC Reinsured Issues
• 11/6/2008: S&P Projected Losses Have Widened For Bond Insurers With RMBS And CDO Exposure
• 02/25/08: S&P Detailed Results Of Subprime Stress Test Of Financial Guarantors
• 12/20/07: S&P Says MBIA’s CDO Exposure Was Reflected In Its Analysis
• 12/19/07: S&P Report: Detailed Results Of Subprime Stress Test Of Financial Guarantors