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Bond Buyer writes "​TOBs Under Scrutiny". The daily muni market paper says "Eleven of the market'​s largest tender option bond programs have approached Moody'​s Investors Service with plans to update the documents defining their programs so underlying ratings of insured bonds are taken into account." Firms in the process of removing their program'​s reliance on insurers MBIA, Ambac, etc., include BoA, Bear Stearns, BB&​T, Eclipse Funding, Citi, JPMorgan, LaSalle, Lehman, Merrill, Morgan Stanley, and State Street Global Markets states The Bond Buyer.

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