S&P upgrades Assured Guaranty operating insurance cos. to 'AA'

theflyonthewall.com

Standard & Poor's Ratings said that it raised its financial strength and enhancement ratings on Assured Guaranty Municipal Corp., Assured Guaranty Corp., Assured Guaranty Re Ltd., and Municipal Assurance Corp. to 'AA' from 'AA-'. S&P said, "The rating action reflects our view that Assured's competitive position remains strong relative to its peers' in the bond insurance industry. We believe that Assured no longer warrants a different rating than other recent entrants in the financial guaranty market based on its legacy structured-finance portfolio, which has materially declined since 2008."

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