- Language: English
- Published: June 2011
Research Update: Financial Security Assurance Inc. Outlook Revised To Negative; 'AAA' Rating Affirmed Aug 08
- Published: August 2008
- Standard & Poors
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: Outlook: Negative
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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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