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Assured Guaranty Ltd. - AGO STOCK NEWS

Welcome to our dedicated page for Assured Guaranty Ltd. news (Ticker: AGO), a resource for investors and traders seeking the latest updates and insights on Assured Guaranty Ltd. stock.

Assured Guaranty Ltd. (NYSE: AGO) is a leading provider of financial guaranty insurance. The company guarantees the timely payment of scheduled principal and interest on municipal, public infrastructure, and structured finance obligations. Operating primarily through its subsidiaries, Assured Guaranty serves both the U.S. and international markets, offering credit enhancement products that improve the creditworthiness of bonds and other financial instruments.

Assured Guaranty operates in two main segments: Insurance and Asset Management. The Insurance segment predominantly drives the company's revenue by insuring municipal bonds and infrastructure projects, while the Asset Management segment focuses on managing assets across collateralized loan obligations and other investment funds.

The company's recent activities highlight its robust market presence and strategic initiatives. For instance, Assured Guaranty Municipal Corp. (AGM) insured $800 million in bonds for the New York Transportation Development Corporation to support the JFK Airport's New Terminal One Project. Additionally, Assured Guaranty (Europe) SA secured a €93.7 million loan for Metro de Madrid, demonstrating its significant role in facilitating major infrastructure projects.

Financially, Assured Guaranty remains strong, with a solid track record of profitability and shareholder value enhancement. The company declared a quarterly dividend increase to $0.31 per common share, reflecting its commitment to returning value to shareholders. Furthermore, Assured Guaranty's financial performance in the fourth quarter of 2023 was impressive, with GAAP net income of $376 million and adjusted operating income of $338 million.

Assured Guaranty's strategic transactions, such as its collaboration with Sound Point Capital Management, indicate its proactive approach to expanding its asset management capabilities. These efforts position the company well for future growth and underscore its adaptability in a dynamic financial landscape.

For more information, visit AssuredGuaranty.com.

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Assured Guaranty (NYSE: AGO) announced that the financial strength ratings of its subsidiaries will remain unchanged following the merger of Assured Guaranty Municipal Corp. (AGM) into Assured Guaranty Inc. (AG). This affirmation comes from S&P Global Ratings, Kroll Bond Rating Agency (KBRA), and Moody's. The merger, expected to close on August 1, 2024, aims to simplify the organizational structure, creating operational efficiencies and enhancing the company's global platform. Moody's noted that the merger will moderately strengthen the credit profile of the combined entity, despite a planned $300 million capital extraction through a special dividend. The ratings affirmations reflect Assured Guaranty's strong capital profile, conservative underwriting, and leading market position.

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Assured Guaranty (NYSE: AGO) announced the merger of its U.S. entities, Assured Guaranty Municipal Corp. (AGM) and Assured Guaranty Inc. (AG), effective August 1, 2024. The merger aims to optimize capital usage, simplify administration, and enhance financial stability by combining their portfolios and resources. This consolidation is expected to diversify the insured portfolio and increase claims-paying resources. Additionally, the Maryland Insurance Administration has approved a $300 million stock redemption post-merger. AGM's subsidiaries will continue their operations under AG.

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Assured Guaranty Municipal (AGM) has insured $800 million of senior Special Facilities Revenue Bonds for JFK International Airport's New Terminal One project. This marks AGM's second involvement within seven months, following a similar issuance in December 2023. The bonds, part of a $2.55 billion Series 2024 issue, were issued on June 27. AGM's total insured bonds now amount to $1.6 billion out of JFK NTO's $4.55 billion total bonds issued to date. The bonds will fully amortize post an initial interest-only period, maturing in 2060. This reflects AGM's significant commitment and capability to provide cost savings in large, complex public-private partnership projects.

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S&P Global Ratings has reaffirmed the AA financial strength rating for Assured Guaranty (NYSE: AGO) and its subsidiaries, maintaining a stable outlook. This affirmation highlights Assured Guaranty's strong competitive position in the U.S. public finance market, excellent capital adequacy, and exceptional liquidity. The company's well-diversified global underwriting strategy and measured approach to non-U.S. public finance markets were also praised. CEO Dominic Frederico emphasized the company's intent to grow its insured portfolio, enhancing future earnings and financial strength.

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Assured Guaranty Municipal insured $1.134 billion of senior revenue bonds for the Brightline Florida Passenger Rail Project, part of a $2.219 billion debt-refinancing package. The bonds priced on April 25 and were issued by the Florida Development Finance on May 9. Assured Guaranty's involvement contributed to a successful debt placement by Morgan Stanley. The transaction showcases the value investors place on Assured Guaranty's due diligence and financial guaranty in municipal and infrastructure financing. The insured bonds will be fully amortizing after an initial interest-only period, with AGM insuring term bonds due in 2044, 2047, and 2053. Morgan Stanley acted as the sole book-running manager for the transaction.

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Assured Guaranty reported robust first-quarter 2024 results with a net income of $109 million, $1.89 per share, and gross written premiums of $61 million. Adjusted operating income was $113 million, $1.96 per share, with record levels of shareholders' equity, operating shareholders' equity, and book value per share. Share repurchases totaled $129 million with an increase in authorization by $300 million. Moody's upgraded AGC's insurance financial strength rating. Key segments like Insurance and Asset Management showed growth.

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Assured Guaranty (NYSE: AGO) has announced a quarterly dividend of $0.31 per common share payable on May 29, 2024. The company provides credit enhancement products to various markets and has an ownership interest in Sound Point Capital Management, LP.

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Moody’s Investors Service upgraded Assured Guaranty Corp.’s (AGC) rating to A1 and affirmed Assured Guaranty Municipal Corp.’s (AGM) rating, both with stable outlooks. The upgrade reflects AGC’s improved credit quality and strategic role within Assured Guaranty Moody’s also affirmed Assured Guaranty ’s long-term issuer rating and debt ratings for subsidiaries.

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Assured Guaranty (NYSE: AGO) is set to announce its first-quarter financial results for 2024 on May 7, 2024. The press release and financial supplement will be available on the company's website. An investor conference call will be held on May 8, 2024, accessible via webcast or phone.
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Assured Guaranty Municipal Corp. and Assured Guaranty Corp. announce leadership changes within their public finance teams, with Marc Livolsi and Evan Boulukos taking on new roles. Paige Litten also joins as a Director. The company aims to strengthen its market leadership position and enhance services to municipal market participants.
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FAQ

What does Assured Guaranty Ltd. do?

Assured Guaranty Ltd. provides financial guaranty insurance for municipal bonds, public infrastructure projects, and structured finance obligations, ensuring timely payment of principal and interest.

What are the main business segments of Assured Guaranty Ltd.?

Assured Guaranty operates in two primary segments: Insurance and Asset Management. The Insurance segment focuses on insuring municipal and infrastructure bonds, while the Asset Management segment manages assets across various investment funds.

What recent projects has Assured Guaranty been involved in?

Recently, Assured Guaranty has insured $800 million in bonds for New York's JFK Airport New Terminal One Project and secured a €93.7 million loan for Metro de Madrid.

How is Assured Guaranty's financial performance?

Assured Guaranty has demonstrated strong financial performance, with a GAAP net income of $376 million for Q4 2023 and a declared quarterly dividend increase to $0.31 per common share.

What strategic initiatives is Assured Guaranty pursuing?

Assured Guaranty is expanding its asset management capabilities through strategic transactions, such as its collaboration with Sound Point Capital Management, enhancing its growth prospects and adaptability.

Where can I find more information about Assured Guaranty?

More information about Assured Guaranty can be found on their official website at AssuredGuaranty.com.

What is Assured Guaranty's approach to dividend payments?

Assured Guaranty has a consistent track record of increasing dividends, having raised them every year since 2012. The latest declared quarterly dividend is $0.31 per common share.

How does Assured Guaranty support infrastructure projects?

Assured Guaranty supports infrastructure projects by providing municipal bond insurance, which enhances the creditworthiness of bonds issued for funding significant infrastructure developments.

What is Assured Guaranty's market position?

Assured Guaranty is a leading player in the financial guaranty insurance market, with a strong presence in the U.S. and international public finance sectors.

How has Assured Guaranty adapted to market changes?

Assured Guaranty has adapted to market changes through strategic asset management initiatives, partnerships, and expanding its global underwriting strategy to capitalize on new opportunities.

Assured Guaranty Ltd.

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