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Article: Fitch Affirms 1 & Downgrades 4 Assured Guaranty-Insured Tranches of TruPS CDOs.
- Article from:
- Insurance Weekly News
- Article date:
- November 6, 2009
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Fitch Ratings has resolved the Rating Watch Negative status and subsequently downgraded the Insurer Financial Strength (IFS) rating of Assured Guaranty Corp. (Assured Guaranty) to 'AA-' Rating Outlook Negative from 'AA' Rating Watch Negative, on Oct. 12, 2009.
As a result of this action, Fitch has downgraded and removed from Rating Watch four notes, issued by trust preferred (TruPS) collateralized debt obligations (CDOs), whose ratings rely on an insurance policy issued by Assured Guaranty. Fitch has also affirmed one note whose unenhanced credit quality exceeded the IFS rating of Assured Guaranty. Fitch assigns its ratings of the affected tranches to the higher ...