BUZZ-MBIA Inc: BTIG upgrades to "buy"

viernes 15 de agosto de 2014 12:12 GYT

** Bond insurer's shares up 4.7 pct at $10.35

** BTIG analysts upgrade stock to "buy" from "neutral", citing a decline in the likelihood of a major loss on the company's $1.53 billion of net insured exposure to the Puerto Rico Electric Power Authority

** PREPA gets approval to use $280 million held in its construction fund to pay current expenses and its lenders agree to delay repayments

** BTIG analysts also said the agreement might help allay concerns about MBIA being disallowed to make a dividend to the holding company from its unit, National Public Finance Guarantee Corp

** Up to Thursday's close, the stock had fallen 17 pct this year