Bond insurance

All municipal bond insurers wrapped $35.381 billion in 2023, a 5.8% increase from the $33.428 billion insured in 2022, according to LSEG data.

Texas bond volume climbed 22.5% to lead the nation in a year when issuance in the eight-state Southwest region increased by only 0.6%.

The top two municipal bond insurers wrapped $31.845 billion in 2023, up 10.4% from the $28.847 billion of deals in 2022, according to Refinitiv data.

"The work done by our agency often focuses on the long-term," said Connecticut State Treasurer Erick Russell.

The experts, hired by bond parties, say the Oversight Board's economic and expense assumptions underlying its plan of adjustment are too pessimistic.

The top two municipal bond insurers wrapped $22.814 billion in the first three quarters of 2023, a slight dip of 0.5% from the $22.929 billion of deals done over the same period in 2022, according to Refinitiv data.

The question is raised whether "invitations" to support the plan were the same as "solicitations."

In comparison to the $17.689 billion of transactions completed in the first half of 2022, the top two municipal bond insurers wrapped $15.571 billion in 2023.

The top two municipal bond insurers wrapped $15.571 billion in the first half of 2023, a 12% decrease from the $17.689 billion of deals done in the first half of 2022, according to Refinitiv data. Insurance was up in Q2.

Connecticut's baby bond trust received its initial funding without the need to borrow with the help of a debt reserve insurance policy.

The top two municipal bond insurers wrapped $5.735 billion in the first quarter of 2023.

The deal is expected to close in the third quarter of 2023.

Mark Cappell is the president of the National Federation of Municipal Analysts for 2023, its first bond insurer to take the role since 2009.

It says the plan of adjustment can treat bonds of National Public Finance Guarantee differently and let National vote in a different class.

The proposed plan's superior treatment of National Public Finance Guarantee-insured bonds is discriminatory and thus illegal, they allege.

The two main insurers, Assured Guaranty Municipal Corp. and Build America Mutual, accounted for $28.823 billion of deals in 2022 compared to $37.193 billion of in 2021.

School districts must sell bonds based on their own ratings or with private insurance because the triple-A-rated Permanent School Fund's capacity is nearly maxed out.

Arrick was formerly a managing director and healthcare group leader for S&P Global Ratings.

The top two municipal bond insurers wrapped $22.897 billion in the first three quarters of 2022, a 21.1% decrease from the $29.028 billion of deals done in the first nine months of 2021.

The bankruptcy judge indicated her support for the deal reached between Assured Guaranty and Franklin Advisors and Nuveen.