Assured Guaranty's Municipal Assurance Corp., the company's muni-only bond insurance business launched last month, wrapped its first deal.

MAC insured $2.48 million of Fonda-Fultonville Central school district general obligation bonds in a competitive sale, Assured said Thursday. The district, located in upstate New York, includes an elementary, middle and high school and has an underlying Standard & Poor's rating of A-plus.

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