Assured Guaranty to change name of subsidiary

Tue. November 03, 2009; Posted: 05:04 AM

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Nov 03, 2009 (Datamonitor via COMTEX) -- GRTYA | Quote | Chart | News | PowerRating -- Assured Guaranty, the holding company for Assured Guaranty Corporation and Financial Security Assurance, or FSA, has announced that, pending regulatory approval, it will change the name of its subsidiary FSA to Assured Guaranty Municipal Corporation. The company also plans to change the names of the FSA companies worldwide.

Assured Guaranty Municipal Corporation, formerly FSA, now serves the municipal market exclusively, and Assured Guaranty Corporation provides financial guaranty insurance to both the municipal and structured finance sectors.

Dominic Frederico, president and CEO of Assured Guaranty, said: "With the only established bond insurers to have come through the recession in strong capital positions, the Assured Guaranty family of companies, which now includes Assured Guaranty Corporation, Assured Guaranty Municipal Corporation and Assured Guaranty Re (licensed and operating exclusively in Bermuda), remain committed to the municipal market and have the capital resources to meet its needs.

"We also see an important role for Assured Guaranty Corporation to assist in the recovery of the structured finance sector as the economy improves. Our value proposition, which goes beyond the guaranty and includes providing liquidity and valuation, as well as credit analysis, surveillance, and, if necessary, remediation, is more necessary than ever given the current economic environment."

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