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News Breaks
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October 12, 2009
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| 15:35 EDT |  | AGO |
| theflyonthewall.com: | Assured Guaranty responds to ratings downgrade by Fitch | | Dominic Frederico, President and CEO of Assured Guaranty responded to Fitch Ratings’ downgrades of the Insurer Financial Strength ratings of bond insurers Assured Guaranty Corp. to AA- from AA and Financial Security Assurance , Dominic Frederico, President and CEO of Assured Guaranty. An excerpt of the statement follows: “We are pleased that Assured Guaranty Corp. and FSA remain in the double-A rating category, a designation indicative of significant financial strength. We believe the one-notch rating downgrades primarily incorporate Fitch’s stress loss estimates based on an extremely pessimistic view of the future performance of residential mortgage exposures and point out that Fitch noted our ability to mitigate potential future losses and improve rating agency capital. Importantly, the removal of our ratings from Rating Watch Negative to the longer-term designation Negative Outlook provides time for more clarity on the direction of the economy and future performance of the residential mortgage portfolio versus pure estimates. Additionally, the capital bases of Assured Guaranty Corp. and FSA will further benefit from the run-off of the existing residential mortgage and asset-backed portfolios; loss mitigation initiatives, including recoveries through representation and warranty claims; the use of external reinsurance; and the emergence of capital through earnings." :theflyonthewall.com |
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February 13, 2012
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| 07:27 EDT |  | AGO |
| theflyonthewall.com: | The Bondy Buyer to host a conference | | 16th Annual Texas Public Finance Conference is being held in Austin, Texas on February 12-14. :theflyonthewall.com |
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February 9, 2012
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| 15:07 EDT | | AGO |
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