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Debt management. (From the Library).(Brief Article)
Bond Insurance as a Form of Credit Enhancement in California's Municipal Debt Market
Frank Moore
California Debt and Investment Advisory Commission, January 2002.
Credit enhancement is becoming increasingly common in the municipal market. In California, this is evidenced by the fact that more than half of all municipal debt issued in 2000 was credit-enhanced. The most common type of credit enhancement in California and elsewhere is bond insurance, which guarantees principal and interest payments in the event of a default. In deciding whether or not to insure or otherwise enhance the creditworthiness of a financing, governments need to take into consideration a number of factors. Issuers should have an understanding of the criteria insurers use to evaluate the viability of a transaction and should compare the characteristics of their particular transaction with the specialties of potential providers. Issuers should take into consideration the credit worthiness of potential bond insurance companies themselves. The ability of these ...
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- Magazine article from: The Bond Buyer Boyle, Nicholas March 30, 1992 700+ words
...would make the business mediocre at best, according to bond insurance executives. Yet pricing is only one of the many obstacles...leaving stones unturned." The stones of most interest to the bond insurance market are A-rated credits from sound, stable municipalities...
- Bestowing the secondary market kiss: forlorn frogs clamor for a better way....
- Magazine article from: The Bond Buyer Boyle, Nicholas March 30, 1992 700+ words
The shadowy market for secondary municipal bond insurance was thrust into the light in recent weeks when dealers and investors complained loudly that bond insurers' pricing and methods...
- Credit enhancement: bank LOCs and bond insurance. (letters of credit) (Special...
- Magazine article from: The Bond Buyer August 14, 1991 700+ words
...elected the top credit enhancement analyst for...analysis but not to bond insurance, gave deSante...the letter of credit enhancement sector and the...look at the bond insurance companies...understand what bond insurance can and cannot...backed by a soft ...
- 'Bond insurance industry has never been stronger.' (Credit Enhancement...
- Magazine article from: The Bond Buyer Paston, Donald H. May 23, 1994 700+ words
...two years of record performance, the bond insurance industry is now confronted by an environment...conditions, the overall picture for the bond insurance industry is very bright, and Duff...or reinsurers. Fundamentally, the bond insurance industry has never been stronger...
- Credit enhancement: bank LOCs and bond insurance. (Mark H.S. Cohen of Fitch...
- Magazine article from: The Bond Buyer October 27, 1992 700+ words
...American Municipal Analyst title in the bond insurance and letter of credit category. He...Under the heading of great weather for bond insurance companies, he noted that volume is...beckoning. The annuitant nature of bond insurance company earnings is the envy of Wall...
- AMBAC holds line in bond insurance pricing war.(AMBA Indemnity Corp.)(Credit...
- Magazine article from: The Bond Buyer Kaplan, David May 29, 1996 700+ words
AMBAC Indemnity Corp.is not about to embark on a price war with its competitors just to glean some marginal market share, according to Joseph V. Salzano, executive vice president and director of public finance. "We made a saying years ago that we would never sacrifice pricing, returns or credit
- Bond insurers brave lease world's shifting political winds. (bond insurance...
- Magazine article from: The Bond Buyer Hill, Patrice March 30, 1992 700+ words
...surprising, then, that the conservative and lucrative bond insurance industry is betting on political continuity, yet insurance...Terry Branstad, was turned down initially by four municipal bond insurance firms late last year because of staunch opposition from...
- A primer on short-term securities: enhanced, unenhanced, and self-enhanced....
- Magazine article from: The Bond Buyer Pressman, Aaron May 23, 1994 700+ words
...backed by a variety of credit enhancement, such as letters of credit, bond insurance, securitized mortgages...the added expense of credit enhancement. These investors...existing providers of credit enhancement that are not commercial...