NEW YORK (Bloomberg) - Fitch Ratings suspended ratings on all municipal debt insured by downgraded bond insurer XL Capital Assurance (XLCA) that do not carry an underlying Fitch ranking, one week after the company said those bonds would be rated A.

On March 28, two days after Fitch lowered XLCA below investment grade to BB from A, the company said it would keep an A rating on XLCA-insured municipal bonds that did not have an underlying Fitch ranking. At the time, Fitch said if the debt issuers did not want Fitch to publish an underlying rating, the company might withdraw the ranking.