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Moody's could cut Assured Guaranty
Moody's Investors Service said it placed the Aa3 insurance financial strength ratings of Assured Guaranty Municipal Corp. (AGM), Assured Guaranty Corp. (AGC) and their affiliated insurance operating companies on review for possible downgrade.
In the same action, Moody's placed the A3 senior unsecured ratings of Assured Guaranty US Holdings, Inc. and Assured Guaranty Municipal Holdings, Inc. on review for possible downgrade.
"Today's rating action reflects Moody's opinion that Assured Guaranty's business and financial profiles may have meaningfully deteriorated due to the firm's narrower business opportunities and substantial exposure to sectors adversely affected by the financial crisis and current economic stress," Moody's associate managing director Stanislas Rouyer said in a news release.
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