Moody's Investors Service and Standard & Poor's are stepping up their look at bond insurers. The increased scrutiny comes after Ambac Financial Group reported write-downs of $3.5 billion that the bond insurer attributed to losses on subprime-mortgage securities. "No one knows when the end may be in sight, including the raters," said Richard Larkin, a municipal bond analyst at JB Hanauer & Co. in Parsippany, N.J.

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