KBRA Affirms IFSRs for Assured Guaranty Municipal Corp., Assured Guaranty Corp., and European Subsidiaries; Affirms Issuer and Debt Ratings for Assured Guaranty US Holdings, Inc.

20 Oct 2023   |   New York


KBRA affirms the insurance financial strength ratings (IFSR) of AA+ for Assured Guaranty Municipal Corp. (AGM), Assured Guaranty Corp. (AGC), Assured Guaranty (Europe) SA (AGE), and Assured Guaranty UK Limited (AGUK). The Outlooks for all entities remain Stable.

The rating affirmations for AGM and AGC reflect each entity’s claims paying resources, skilled management team and ability to withstand KBRA’s conservative stress scenario losses as applied across their respective insured portfolios. AGE and AGUK benefit from extensive intra-group financial support agreements which support their IFSRs.

At the same time, KBRA affirms the A+ issuer rating for Assured Guaranty US Holdings Inc. (AGUS) as well as the A+ debt ratings on the 6.125% Senior Notes due 2028, the 3.150% Senior Notes due 2031, and the 3.600% Senior Notes due 2051. The Outlooks remain Stable.

To access rating and relevant documents, click here.

Click here to view the report for AGM, AGE, and AGUK.

Click here to view the report for AGC.



Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Doc ID: 1002501

805 Third Avenue
29th Floor
New York, NY 10022
+1 (212) 702-0707
Contact Us

© 2010-2024 Kroll Bond Rating Agency, LLC. All Rights Reserved. Kroll Bond Rating Agency, LLC is not affiliated with Kroll Inc., Kroll Associates Inc., KrollOnTrack Inc., or their affiliated businesses.