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Article: Secondary market still offers room for bond insurers to grow, S&P says. (Standard and Poor's Corp.)
- Article from:
- The Bond Buyer
- Article date:
- August 17, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Municipal bond insurers have some room to grow in the secondary market despite already strong penetration levels, Standard & Poor's Corp. said yesterday.
"Innovative products and strategies can maximize the benefits of doing business in this sector," the rating agency said in this week's Credit Week Municipal. But the two-page report called the opportunities "incremental."
The rating agency said gains will be increasingly hard to muster because the universe of potentially insurable bonds is constantly shrinking. In 1987, for example, 91% of of all outstanding bonds were uninsured. By last year the figure had fallen to 74%.
And industry sources ...