MBIA Inc. said last week it secured a $225 million line of credit from a group of banks led by Wachovia Bank of Georgia.

The new line of credit will be used to replace four existing credit facilities totaling $130 million. Combined with an existing $575 million, sevenyear standby letter of credit and a $25 million facility, the new credit line brings MBIA's total credit lines to $825 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.