In a somewhat surprising move, Associated Press is reporting that Warburg Pincus increased its stake in MBIA to 25% from 20.2%. It's only a 5% increase but nevertheless it's good news for MBIA and the stock was up significantly today.
Warburg Pincus said Monday it raised its stake in MBIA Inc. to 25 percent, after the bond insurer posted a sharply smaller loss for the fourth quarter.Tags: MBIA (MBI)
Warburg Pincus upped its stake from 20.2 percent, according to a Securities and Exchange Commission filing. The company has been investing hundreds of millions of dollars in MBIA since 2007 to help protect the company's financial-strength rating.