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Assured Guaranty Ltd. (NYSE: AGO) is a leading provider of financial guaranty insurance. The company guarantees the timely payment of scheduled principal and interest on municipal, public infrastructure, and structured finance obligations. Operating primarily through its subsidiaries, Assured Guaranty serves both the U.S. and international markets, offering credit enhancement products that improve the creditworthiness of bonds and other financial instruments.
Assured Guaranty operates in two main segments: Insurance and Asset Management. The Insurance segment predominantly drives the company's revenue by insuring municipal bonds and infrastructure projects, while the Asset Management segment focuses on managing assets across collateralized loan obligations and other investment funds.
The company's recent activities highlight its robust market presence and strategic initiatives. For instance, Assured Guaranty Municipal Corp. (AGM) insured $800 million in bonds for the New York Transportation Development Corporation to support the JFK Airport's New Terminal One Project. Additionally, Assured Guaranty (Europe) SA secured a €93.7 million loan for Metro de Madrid, demonstrating its significant role in facilitating major infrastructure projects.
Financially, Assured Guaranty remains strong, with a solid track record of profitability and shareholder value enhancement. The company declared a quarterly dividend increase to $0.31 per common share, reflecting its commitment to returning value to shareholders. Furthermore, Assured Guaranty's financial performance in the fourth quarter of 2023 was impressive, with GAAP net income of $376 million and adjusted operating income of $338 million.
Assured Guaranty's strategic transactions, such as its collaboration with Sound Point Capital Management, indicate its proactive approach to expanding its asset management capabilities. These efforts position the company well for future growth and underscore its adaptability in a dynamic financial landscape.
For more information, visit AssuredGuaranty.com.
Assured Guaranty Ltd. (NYSE: AGO) announced the election of Michelle McCloskey, Lorin P.T. Radtke, and Courtney C. Shea to its Board of Directors, effective May 5, 2021, raising total board members to 13. The new directors will enhance the Board's diverse skill set, contributing to strategies for continued success. McCloskey brings 35 years in asset management, Radtke offers extensive experience from Goldman Sachs, and Shea has a strong background in public finance. Their insights are expected to support Assured Guaranty's growth in financial services and asset management.
Assured Guaranty Municipal Corp. (AGM), a subsidiary of Assured Guaranty Ltd. (NYSE: AGO), has privately participated in a guarantee for approximately 760 billion Colombian pesos (around US$ 209 million) of notes issued by Patrimonio Autónomo Montes de María. The notes, linked to the Unidad de Valor Real, will refinance a mini-perm loan for a Colombian toll road project and adhere to Social Bond Principles. Rated AA by S&P and AA+ by Kroll, AGM aims to enhance access to global debt markets for Colombian issuers.
Assured Guaranty Ltd. (NYSE: AGO) will release its financial results for Q1 ending March 31, 2021, on May 6, 2021, at 4:00 PM ET. The press release and Financial Supplement will be accessible on AssuredGuaranty.com. An investor conference call is scheduled for May 7, 2021, at 8:00 AM ET, available through a live webcast. A replay will be available until August 5, 2021. Assured Guaranty Ltd. specializes in providing credit enhancement products and asset management services in public finance and structured finance markets.
Assured Guaranty UK Limited (AGUK) has guaranteed £327 million in index-linked secured bonds issued by QAH Finance Plc, supporting the acquisition of a Credit Guarantee Loan linked to the Queen Alexandra Hospital PFI Project. The bonds, rated A2 (Stable) by Moody’s, reflect strong investor demand. AGUK possesses strong financial ratings, including AA from S&P and AA+ from Kroll. This strategic move not only secures principal and interest payments for investors but also may enhance AGUK's reputation in the financial markets.
Assured Guaranty Ltd. announced a framework agreement with the Financial Oversight and Management Board for Puerto Rico to settle its insured exposure related to the Puerto Rico Highway and Transportation Authority. This agreement is subject to definitive documentation, supporting the revised Puerto Rico General Obligation and Public Buildings Authority Plan Support Agreement. Assured Guaranty emphasizes its commitment to a consensual resolution of Puerto Rico's financial issues, aiming for a fair conclusion of the Title III process while protecting its legal rights.
Assured Guaranty Ltd. (AGO) reported its financial results for Q4 and FY 2020, achieving significant milestones despite market challenges. The company secured a 58% share in the bond insurance market and raised municipal PVP by 45% year-over-year. The repurchase of shares increased adjusted book value per share by $17.88, the highest since its IPO. However, adjusted operating income fell to $429 million in FY 2020 from $512 million in FY 2019, driven by increased loss expenses mainly linked to Puerto Rico. Investors should weigh these factors when considering AGO's stock.
Assured Guaranty Ltd. (NYSE:AGO) has declared a quarterly dividend of $0.22 per common share, marking a 10% increase from the previous $0.20 dividend declared on November 2, 2020. The new dividend will be payable on March 24, 2021, to shareholders recorded by the close of business on March 10, 2021. This reflects the company's commitment to returning value to shareholders while continuing to provide credit enhancement products across various financial markets.
Assured Guaranty Municipal Corp. and Assured Guaranty Corp. (subsidiaries of Assured Guaranty Ltd.) have conditionally supported a revised Plan Support Agreement (PSA) regarding Puerto Rico's financial challenges. This agreement is with the Financial Oversight and Management Board and other creditors, with tacit support from the Commonwealth of Puerto Rico. Assured Guaranty aims for a comprehensive resolution involving various Puerto Rican credits, including Highway and Transportation Authority bonds, ensuring legal rights are respected and expediting the Title III process.
Assured Guaranty Ltd. (NYSE:AGO) announced it will release its financial results for the full year and fourth quarter ended December 31, 2020, after 4:00 p.m. ET on February 25, 2021. Concurrently, a financial supplement will be accessible on the company's website. A conference call for investors is scheduled for 8:00 a.m. ET on February 26, 2021, with options for live and archived webcasts. The replay will be available until May 26, 2021. Assured Guaranty specializes in credit enhancement products and asset management services.
Kroll Bond Rating Agency (KBRA) has affirmed the AA+ ratings for Assured Guaranty Municipal Corp. (AGM) and its subsidiaries, alongside a AA rating for Assured Guaranty Corp. (AGC) and Municipal Assurance Corp. (MAC), all with Stable Outlooks. Key strengths include experienced management and a robust risk management framework. KBRA considers COVID-19 primarily a liquidity event for Assured Guaranty, with no first-time claims linked to credit stress as of November 6. The group boasts approximately $11 billion in claims-paying resources as of September 30, 2020.
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