Bond insurance

Robert Lamb of Lamont Financial Services is a veteran of municipal turnaround efforts in Connecticut.

Sean McCarthy, CEO of Build America Mutual, talks about the state of the municipal bond insurance industry, what has changed since BAM was founded five years ago, and how much exposure it has to the areas affected by hurricanes Harvey and Irma.

Assured Guaranty and Build America Mutual presented city and state officials with an alternative to bankruptcy.

Although the damage of Hurricane Irma nearly doubles the exposure for two bond insurers from where it was after Hurricane Harvey, there is no rating concern for any of the three guarantors, with the impact of Hurricane Maria looming.

Bond insurers wrap $13.6 billion in bonds in areas devastated by Hurricane Harvey and analysts are still adding up their exposure in Irma’s wake.

Assured Guaranty Municipal Corp., a subsidiary of Assured Guaranty Ltd., and Wasmer, Schroeder & Company announced the closing of AGM's acquisition of a minority interest in WSC on Wednesday.

Although market conditions and a still relatively low interest rate environment continue to hamper the bond insurance industry, there continue to be encouraging signs including a slight uptick in the insurance penetration rate.

Build America Mutual, after surviving a credit watch with its double-A rating intact, posted mixed results in the second quarter.

Assured Guaranty Ltd., the largest municipal bond insurer, reported gains in second-quarter profit, boosted by share repurchases and lower reserve additions for Puerto Rico losses.

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.

Build America Mutual reported a jump in claims-paying resources and statutory comprehensive income in the first quarter as well as a smaller statutory loss than in the past.