Despite the relative ease with which Assured Guaranty Ltd. raised capital last week, layoffs at the company are expected to continue into the first quarter of 2010, cutting its total workforce by about 40% in a period of nine months.

Last week, Assured offered underwriter UBS Securities LLC 23.9 million shares with a 30-day option to purchase an additional 3.6 million. On Friday UBS chose not to wait the 30 days and simply acquired all 27.5 million shares at $20.90 each, thereby injecting Assured with a total of $574 million in fresh funds.

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