Summary: Assured Guaranty Corp.
- ID: 1713428
- June 2008
- Standard & Poors
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The 'AAA' rating on Assured Guaranty Corp. (Assured) reflects Standard & Poor's Ratings Services' view on the company's strong market position in the bond insurance industry as well as its solid capital position. Relative to a year ago when the company was at a trading value disadvantage compared with the major primary companies, Assured's successful negotiation of the nonprime residential mortgage-based securities (RMBS) situation has resulted in trading value improvement and affirmation of its rating. Only Assured, Financial Security Assurance Inc., and Berkshire Hathaway Assurance Corp. have 'AAA' ratings with stable outlooks. Assured's management tightened subprime criteria and withdrew from the collateralized debt obligation of asset-backed securities (CDO of ABS) sector at the end of 2003. This has resulted in...
Companies mentioned in this report are: Assured Guaranty Corp,Assured Guaranty Re Overseas Ltd.,Assured Guaranty Re Ltd.,Assured Guaranty (UK) Ltd.
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