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Assured Guaranty Ltd. Message Board

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  • get_imaginary get_imaginary Dec 1, 2011 10:56 AM Flag

    S&P downgrade => 19% uptick

    Just went back and re-read that part. Dominic says in the presentation, "These programs, supplemented by potential new reinsurance or other re-sharing arrangements, are designed to satisfy the requirements of S&P’s new criteria to retain our rating in the AA category. We continue to have no plans to raise equity capital."

    Perhaps the drop in share price following the presentation represented a worry that if the rating level came in below AA, AGO would decide to dilute shareholders. If that's the case, then hitting AA would presumably relieve that concern. A bit convoluted, but that's the only explanation I see that makes sense. Based on publicly available information, anyhow. There might be non-public information behind the move, of course.

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23.56-0.05(-0.21%)Jul 24 4:01 PMEDT

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