Assured Guaranty Ltd. (Assured Guaranty) AGO announced today the
launch of Municipal Assurance Corp. (MAC), a new municipal bond
insurance company that will insure only select categories of U.S.
municipal bonds.
The new company opens for business with $1.5 billion of claims-paying
resources, financial strength ratings of AA+ (stable outlook) from Kroll
Bond Rating Agency and AA- (stable outlook) from Standard & Poor's
Rating Services, and insurance licenses in 37 states and the District of
Columbia. MAC has been capitalized to approximately $800 million through
cash and securities contributed by Assured Guaranty Municipal Corp.
(AGM) and Assured Guaranty Corp. (AGC), which own MAC jointly via a
holding company. Additionally, MAC has an initial statutory
See full press release
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