Assured Guaranty No Longer To Carry Fitch
February 24, 2010 06:42 PM Eastern Time
HAMILTON, Bermuda--(EON: Enhanced Online News)--Assured Guaranty Ltd. (NYSE:AGO) (“Assured
Guaranty” or the “Company”) announced today that, at the Company’s request, Fitch Ratings has agreed to
withdraw its Insurer Financial Strength (IFS) and debt ratings of Assured Guaranty Corp. (“AGC”), Assured
Guaranty Municipal Corp. (“AGM”), Assured Guaranty Re Ltd. and other rated subsidiaries of Assured Guaranty at
the current rating levels.
Dominic Frederico, President and Chief Executive Officer of Assured Guaranty, said: “We took this initiative
following Fitch Ratings’ announcement that it is withdrawing its IFS ratings on all Assured Guaranty insured bonds
for which it does not provide an underlying rating on the issuer. As Fitch’s action withdrew the bond insurer ratings
on approximately 90% of issuers in AGC’s and AGM’s combined insured portfolio, we believe the ratings no longer
provide the same value to investors in our insured transactions.
“If, in the future, Fitch’s participation in the municipal bond market should expand significantly, we would certainly
consider renewing our relationship with them,” Mr. Frederico added.
AGC and AGM each continues to carry Standard and Poor’s Ratings Services financial strength ratings of AAA
(negative outlook) and Moody’s Investors Service financial strength ratings of Aa3 (negative outlook).
Assured Guaranty Ltd. is a publicly-traded Bermuda-based holding company. Its operating subsidiaries provide
credit enhancement products to the U.S. and international public finance, infrastructure and structured finance
markets. More information on the Assured Guaranty family of companies can be found at
Assured Guaranty Ltd.
Investors and Analysts:
Sabra Purtill, CFA
Managing Director, Investor Relations
212-408-6044 or 441-299-9375
Associate, Investor Relations