BAM Announces Kroll Bond Rating Agency Upgrades Fidus Re Series 2018-1 to AA-Plus
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Affirms AA Rating on Series 2021-1 Notes
Kroll said the upgrade of Fidus I “primarily reflects actual amortization of the financial guarantee portfolio at a rate which exceeds the scheduled amortization at transaction issuance.” As a result, “the likelihood or probability that the modeled stress losses on the insured credit risk will exceed the attachment point has decreased, even at a higher confidence interval.”
BAM has paid no losses on the credits covered by the
The Fidus I notes insure losses in excess of
About Build America Mutual
BAM is a mutual bond insurance company operated for the benefit of its members – the cities, states, and other municipal entities that use BAM’s financial guaranty to lower their cost of borrowing – and BAM is the preferred provider of bond insurance for members of the
As of
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Source: Build America Mutual