New York, February 14, 2014 -- Moody's Investors Service has placed the B3 insurance financial strength (IFS) rating of MBIA Insurance Corporation (MBIA Corp.) on review for upgrade following MBIA's announcement of its commutation of $3 billion of commercial mortgage backed securities pools. As part of the same rating action, Moody's placed the ratings of MBIA Mexico S.A de C.V. (MBIA Mexico -- B3 IFS), MBIA UK Insurance Limited (MBIA UK -- B1 IFS), and MBIA Inc. (Ba3, senior debt) on review for upgrade. The Baa1 IFS rating of National Public Finance Guarantee Corporation (National) was affirmed with a positive outlook. The rating action also has implications for the various transactions wrapped by the MBIA group as discussed later in this press release.

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