MBIA sells municipal bonds to raise cash:
Bond insurer MBIA Inc. is selling municipal bonds to raise cash to meet payments that were triggered by its recent downgrade by Moody's Investors Service, The Wall Street Journal reported late Friday in its online edition.
MBIA Inc. said on Monday that it sold roughly $4 billion in assets during the second quarter to help the bond insurer meet obligations that were triggered by a recent downgrade of its credit ratings.