Moody’s Investors Service Friday night downgraded both Assured Guaranty Corp. and Financial Security Assurance Inc. from Aaa, leaving the municipal market without any insurers with triple-A ratings from all three rating agencies.

Moody’s lowered Assured Guaranty to Aa2 with a stable outlook and FSA to Aa3 with a developing outlook. Assured Guaranty Ltd. agreed to buy FSA parent Financial Security Assurance Holdings Ltd., excluding its financial products unit, earlier this month.

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