LOS ANGELES -- Build America Mutual Assurance Company announced Monday that it is offering its guaranty for municipal bonds trading in the secondary market or held in a portfolio by investors, in addition to insuring new municipal issues.

BAM was founded in July and is rated AA with a stable outlook by Standard & Poor’s. The company, the first mutual municipal bond insurer, insured its first bond issue, $10 million of York Suburban School District, Penn., general obligation bonds, at the end of September.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.