Assured Guaranty Ltd. requested that Moody's Investors Service withdraw the rating on its Assured Guaranty Corp. subsidiary, saying it doesn't reflect a strengthening in the unit's credit.
The largest municipal bond insurer also said in a press release Friday that AGC has arranged for S&P Global Ratings to assign AGC's AA (stable) rating to certain AGC-insured bonds not previously rated by S&P. AGC underwrites guaranties on both new-issue and secondary-market U.S. municipal bonds and infrastructure transactions. Additionally, AGC underwrites guaranties for structured financings, including asset-backed securities, in the U.S. and international capital markets. Moody's has an A3 rating on AGC.