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Summary: Assured Guaranty Ltd., Assured Guaranty Municipal Corp., And Assured Guaranty Corp. Jun 11
Standard & Poors, June 2011
Abstract
The 'A+' counterparty credit rating on Assured Guaranty Ltd. (AGL) and the 'AA+' financial strength ratings on Assured Guaranty Municipal Corp. (AGM) and Assured Guaranty Corp. (AGC) reflect Standard & Poor's Ratings Services' view of a struggling financial guarantee market, the companies' market share leader position in the bond insurance industry, and their strong combined capital position. The ratings also reflect our view that growth prospects are limited and continued adverse loss development within the U.S. nonprime residential mortgage exposure of each company is possible. We believe the moribund state of the financial guarantee market in recent years-with only one organization issuing new policies-may be symptomatic of investors' and issuers' diminished demand for bond insurance. The longer this persists, the...
Companies mentioned in this report are: Assured Guaranty Corp,Assured Guaranty Municipal Corp.,Assured Guaranty, LTD.
Action: Review
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.
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