Build America Mutual Assurance Co., the municipal-only financial guarantor seeking to establish itself in a reviving bond insurance market, this month wrapped $76 million of new general obligation bonds for Michigan issuers to help them overcome the taint of Detroit’s bankruptcy.

BAM has insured four Michigan deals totaling $76 million so far in September, including Wednesday’s expected $16.5 million city of Westland, Wayne County, general obligation bonds. On Sept. 12, BAM insured the first sizable deal of local Michigan general obligation bonds, $15.4 million of Battle Creek GOs. The insurer wrapped $35 million of Genesee County general obligation bonds on Monday.

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