Welcome to our dedicated page for Assured Guaranty news (Ticker: AGO), a resource for investors and traders seeking the latest updates and insights on Assured Guaranty stock.
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 a full redemption of its 6.875% Quarterly Interest Bond due December 15, 2101, and a partial redemption of its 6.25% Note due November 1, 2102, both effective July 9, 2021. The full redemption involves a principal amount of $100 million at 100% of the price, along with accrued interest. The partial redemption also consists of a $100 million principal amount at the same price. This move is part of Assured Guaranty's strategy to manage its debt and optimize its financial position.
Assured Guaranty (Europe) SA has guaranteed principal and interest payments on €125 million of bonds issued on May 21, 2021, by Anselma Issuer SA, enhancing its presence in Spain's renewable energy sector. The bonds, rated AA by S&P, leverage favorable long-term interest rates and are linked to 18 photovoltaic solar plants, benefiting from Spain's 2013 regulatory framework. This transaction marks AGE's fifth renewable deal in Spain within two years, showcasing growth despite challenging market conditions. AGE is rated AA by S&P and AA+ by Kroll Bond Rating Agency.
Assured Guaranty Ltd. (NYSE: AGO) announced the sale of $500 million in 3.15% senior notes, due in 2031, through its subsidiary, Assured Guaranty US Holdings Inc. The settlement is anticipated on May 26, 2021, pending customary closing conditions. Proceeds will support general corporate purposes, potentially including repurchase of subsidiary debt or investment in marketable securities. Goldman Sachs & Co. LLC and BofA Securities, Inc. are leading the offering, with Siebert Williams Shank & Co., LLC as co-manager.
Assured Guaranty Ltd. (NYSE: AGO) reported financial results for Q1 2021, highlighting key achievements. The company reached settlement agreements addressing over 93% of its Puerto Rico exposures. Shareholder equity measures hit new highs, with adjusted operating income at $43 million. The new business production generated $86 million of PVP, supported by strong U.S. public finance activity. The asset management segment benefited from a resurgence in the CLO market, doubling last year's management fees.
Assured Guaranty Ltd. (NYSE: AGO) has executed a plan support agreement (HTA/CCDA PSA) for settlement of insured exposure to Puerto Rico revenue bonds, agreed by multiple parties on April 12, 2021. This milestone aims to support Puerto Rico’s economic revitalization and concludes the Title III process. The agreement covers most of Assured Guaranty’s Puerto Rico exposures, ensuring investors are protected by unconditional guaranties on principal and interest payments. Forward-looking statements indicate risks related to the Title III plan confirmation and potential adverse developments in Puerto Rico.
Assured Guaranty Ltd. (NYSE:AGO) announced a quarterly dividend of $0.22 per common share, payable on June 2, 2021. Shareholders of record will be those noted at the close of business on May 19, 2021. Assured Guaranty operates as a Bermuda-based holding company, providing credit enhancement products and asset management services across public finance, infrastructure, and structured finance markets.
Assured Guaranty Ltd. (NYSE: AGO) announced the election of Michelle McCloskey, Lorin P.T. Radtke, and Courtney C. Shea to its Board of Directors, effective May 5, 2021, raising total board members to 13. The new directors will enhance the Board's diverse skill set, contributing to strategies for continued success. McCloskey brings 35 years in asset management, Radtke offers extensive experience from Goldman Sachs, and Shea has a strong background in public finance. Their insights are expected to support Assured Guaranty's growth in financial services and asset management.
Assured Guaranty Municipal Corp. (AGM), a subsidiary of Assured Guaranty Ltd. (NYSE: AGO), has privately participated in a guarantee for approximately 760 billion Colombian pesos (around US$ 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.
FAQ
What is the current stock price of Assured Guaranty (AGO)?
What is the market cap of Assured Guaranty (AGO)?
What does Assured Guaranty Ltd. do?
What are the main business segments of Assured Guaranty Ltd.?
What recent projects has Assured Guaranty been involved in?
How is Assured Guaranty's financial performance?
What strategic initiatives is Assured Guaranty pursuing?
Where can I find more information about Assured Guaranty?
What is Assured Guaranty's approach to dividend payments?
How does Assured Guaranty support infrastructure projects?
What is Assured Guaranty's market position?
How has Assured Guaranty adapted to market changes?
