The troubles at Mutual Benefit Life Insurance Co. have jeopardized the credit quality of 60 tax-exempt bond issues totaling $815 million.

The bonds were guaranteed by the life insurer and until this week had A ratings from Standard & Poor's Corp. But after Mutual Benefit opted for regulatory custodianship on Monday, Standard & Poor's pulled all of the ratings and replaced them with the designation "NR," or not rated.

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