Moody’s affirms Assured Guaranty debt

Moody’s Investors Service said it affirmed the Baa2 senior unsecured debt ratings of Assured Guaranty US Holdings Inc. and Assured Guaranty Municipal Holdings Inc.

The outlook is stable.

The agency said Assured Guaranty's ratings reflect its strong overall capital profile and core earnings power, its ability to underwrite transactions in both the public finance and structured finance markets worldwide through its multiple insurance operating subsidiaries, the ongoing improvement in capital adequacy due to insured portfolio amortization, as well as its leadership position in the financial guaranty insurance sector.

These strengths are tempered by the still depressed levels of financial guaranty insurance utilization, which leaves the company with a limited opportunity set within this niche sector, Moody’s said.

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