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Assured Guaranty Re Ltd.
Standard & Poors, Sep 2009
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: Full Analysis
Abstract
Strategic relationship with sister companies Assured Guaranty Corp. (Assured) and Financial Security Assurance Inc. (FSA). Well-capitalized, with a margin of safety in excess of Standard and Poor's 'AA' minimum. Consolidated group's underwriting focus on low-risk U.S. public finance market. Changes in the industry's competitive dynamics including the potential entrance of new competitors, alternative forms of credit enhancement, and limited insurance penetration in the U.S. public finance market that could hurt the consolidated group's business prospects. Uncertainty relating to fixed-income investors' acceptance of each company's financial guarantees given Assured's continued, selective enhancement of structured finance credits and FSA's structured finance run-off portfolio. The 'AA' rating on Assured Guaranty Re Ltd. (AG Re) reflects Standard & Poor's Ratings Services' view of the...
Companies mentioned in this report are: Assured Guaranty Re Ltd.
Action: Review
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