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Kroll affirms National Public Finance Guarantee

KrollBond Rating Agency has affirmed the AA+ insurance financial strength rating of

The outlookis stable.

Krollsaid National demonstrates an ability to withstand the agency's conservative stresscase loss assumptions and satisfy all claims in full and on time. In light of theCommonwealth of Puerto Rico's significant financial strain that remains unresolved,Kroll developed two stress case scenarios for National's Puerto Rico exposure toassess the impact of different potential claim payment patterns. National's abilityto pay these claims in full and on time under both scenarios, together with otherexpenses, was assessed in Kroll's Bond Insurer Financial Model, and National metall requirements with a comfortable balance remaining.

Nationalis a unit of MBIA Inc.