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Research Update: Financial Security Assurance Inc. Outlook Revised To Negative; 'AAA' Rating Affirmed Aug 08 Product Image

Research Update: Financial Security Assurance Inc. Outlook Revised To Negative; 'AAA' Rating Affirmed Aug 08

  • ID: 1858789
  • August 2008
  • Standard & Poors

FEATURED COMPANIES

  • Sutton Capital Trust I
  • Sutton Capital Trust II
  • MORE

Abstract
On Aug. 6, 2008, Standard & Poor's Ratings Services revised its outlook on Financial Security Assurance Inc. (FSA) to negative from stable, and affirmed its 'AAA' ratings. We also revised to negative from stable the outlook on holding company Financial Security Assurance Holdings Ltd. and affirmed the 'AA' rating. FSA announced today that it has received a capital contribution of $300 million from its owner Dexia S.A. Dexia also announced that it intends to assume all of the financial and economic risk in FSA's financial products (guaranteed investment contracts, or GICs) portfolio. As a result of these measures, FSA's capital adequacy margin of safety remains within Standard & Poor's 'AAA' rating criteria. Absent this new support from Dexia, we believe...

Companies mentioned in this report are:
- Assured Guaranty Municipal Corp.
- Assured Guaranty Municipal Holdings Inc.
- Assured Guaranty (Europe) Ltd.
- Assured Guaranty Municipal Insurance Co.
- Assured Guaranty (Bermuda) Ltd.
- Sutton Capital Trust I
- Sutton Capital Trust II

Action: Affirmed
Action: Outlook: Negative

Standard and Poors RatingsXpress Credit Research READ MORE >

- Assured Guaranty Municipal Corp.
- Assured Guaranty Municipal Holdings Inc.
- Assured Guaranty (Europe) Ltd.
- Assured Guaranty Municipal Insurance Co.
- Assured Guaranty (Bermuda) Ltd.
- Sutton Capital Trust I
- Sutton Capital Trust II

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