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'AAA' Rating, Negative Outlook on Assured Guaranty Corp. Are Unchanged
Standard & Poors, Dec 2004
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) Dec. 17, 2004--Standard & Poor's Ratings Services said today that while its financial strength rating on Assured Guaranty Corp. (AGC) has remained 'AAA' since the rating outlook was revised to negative in October 2002, the current negative outlook reflects our concern that the company might not be successful in implementing its new business plan. The plan shifted the company from operating principally as a reinsurer to operating mostly as a direct primary company. Over the past year, the company has had good success in the asset-backed market, insuring about $9.5 billion of gross par through November 2004. The company has not yet demonstrated similar success in the U.S. public finance market, insuring only several hundred...
Companies mentioned in this report are: Assured Guaranty Corp,Assured Guaranty (UK) Ltd.
Action: General Comment
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