Staving off the prospect of more bank losses and market declines, MBIA Inc's "Aaa" rating was reaffirmed after Moody's Investors Service dropped its immediate threat to cut the world's bond insurer's top rating. While downgrades are still possible, especially if MBIA, the world's biggest bond insurer, splits its business lines, the latest action eased market concerns over rating downgrades of bond insurers and the debt they guarantee. "The affirmation of triple A is a big shot in the arm for the entire industry," said Donald Light, an insurance analyst at Celent, a consulting firm in Boston. "It shows that somebody in the bond insurance industry can take a step back from the brink." If Moody's or S&P had stripped MBIA of its top ratings, bond markets could have been sent into turmoil and new bond issuance could have slowed, cutting into Moody's revenue.