Assured Guaranty reports Q1 EPS (74c), may not compare to consensus 68c Reports Q1 revenue ($176M), may not compare to consensus $213.8M. Reports Q1 operating income per share $1.34. The main drivers of the decrease in GAAP net loss were the benefit attributable to the UBS agreement and the lower non-economic net unrealized fair value losses, which result primarily from the narrowing of credit spreads of AGL's insurance subsidiaries. Fair value adjustments in excess of credit impairment are deemed non-economic, and therefore are expected to reverse by contract maturity.
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