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CIBC faces more monoline write-offs

Posted on May 21, 2008

For all the brave talk that the worst is over[amp]nbsp;in credit markets, CIBC still faces the potential for further writedowns on its exposure to monoline insurers.Rating agency Moody's took an axe to CIBC counterparty CIFG on Tuesday, downgrading the monoline by a dramatic seven notches, from A1 to - Follow link to read full post ...

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