Assured Guaranty Ltd., the only bond insurer with high enough ratings to be an active player in the municipal market, said debt guaranteed by below-investment-grade insurers should be sold in public auctions in order to improve the market’s perception about the product’s viability.

Through its two platforms, Assured Guaranty and Assured Guaranty Municipal, Assured has been the only guarantor writing new business since mid-2008 when the industry fell apart after risky assets laid waste to the balance sheets of other insurers.

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