I'm guessing they are trying to listen and address all of the points that AGO is raising. AGO does have a much better track record than Moody's, puts its own money on the line and is being downgraded by a firm such as this? The Moody's folks aren't idiots and don't want AGO to issue a press release saying how they have errors in their models and in their analyses.
Moody's has to put AGO into a position where all they can say is that it is a difference in opinion. Unfortunately, that is almost certainly how things will work out.
I think Moody's boxed themselves in to downgrade AGO and trying to make a rationale case for it. AGO probably indicated that their criteria says they are 'AA' category so Moodys has to come up with other reasons to make it seem logical to downgrade now. This is similar to S&P when they revised their bond insurer criteria just to fit the rationale to downgrade them.
I think AGO should consider selling themselves to a larger financial/insurance firm. Almost no downside to the buyer since the loss risk is almost fully contained.