Bond insurance

Assured Guaranty and Orrick, Herrington & Sutcliffe LLP expanded their business even as muni volume shrank amid political uncertainty.

One week after National Public Finance Guarantee was downgraded two-notches by S&P Global Ratings, the bond insurer laid off 29 employees, slashing all of the new-business team.

An appeals court ruling favored a Mississippi county in its dispute with Assured Guaranty.

A deal to restructure $9 billion of Puerto Rico electric debt fell apart as a federal control board rejected the accord Tuesday, pushing the island’s main power utility closer to a potential bankruptcy.

National Public Finance Guarantee's ability to write new business is in question after a downgrade to A, three notches below competitors Assured Guaranty and Build America Mutual, which were both affirmed at AA.

S&P Global Ratings said it lowered its financial strength rating on National Public Finance Guarantee Corp. (National) to A from AA-minus and its long-term counterparty credit rating on MBIA Inc. to BBB from A-minus.

National Public Finance Guarantee got a vote of confidence from Kroll Bond Rating Agency a week after S&P Global Ratings put the MBIA Inc. municipal bond insurance unit on credit watch negative.

Bond insurers and analysts say the review is unnecessary and rating cuts could backfire.

S&P Global Ratings said it may adjust certain ratings based on each insurer's "competitive strengths or weaknesses relative to its peers.”

Atlantic City hit the bond market for the first time since a late 2016 state takeover Wednesday.