Amid some of the toughest economic conditions for municipal issuers in decades, bond insurer Assured Guaranty Corp. has tightened its municipal underwriting standards, its parent's president said.

Assured said about 20% of the municipal deals that it was offered failed to meet its credit standards, compared to about 5% a year and a half ago, Assured Guaranty Ltd. president and chief executive officer Dominic Frederico said during a first-quarter earnings conference call Friday.

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