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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
|
3.00% |
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S&P California Bond Index
|
2.96% |
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S&P New York Bond Index
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
|
848.03 |
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S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
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S&P U.S. Preferred Stock Index (TR)
|
1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
|---|
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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S&P downgrades Assured Guaranty, big bond insurer |
* Operating units downgraded to AA-minus
* Downgrade milder than threatened
* Assured backed by billionaire Wilbur Ross
By Jonathan Stempel
Nov 30 (Reuters) - Assured Guaranty Ltd saw its credit rating downgraded two notches on Wednesday by Standard & Poor's, but the cut was smaller than had been threatened and should let the last remaining U.S. municipal bond insurer keep guaranteeing public finance debt.
S&P lowered its ratings for Assured operating units, including Assured Guaranty Municipal Corp and Assured Guaranty Corp, to "AA-minus," its fourth-highest grade, from "AA-plus." It also downgraded the parent company two notches to "A-minus" from "A-plus." The rating outlook is stable.
The cuts follow changes in S&P's bond insurance rating criteria, after the once "triple-A" rated MBIA Inc and Ambac Financial Group Inc fell to junk status from incurring big losses by insuring risky mortgage debt.
Both of those companies stopped insuring municipal bonds, and Ambac filed for bankruptcy protection last year. A unit of Warren Buffett's Berkshire Hathaway Inc briefly filled some of the void, but stopped after Buffett concluded the risks were too high for his company.
S&P said Assured has a "solid market presence and consistent track record of profitability" from underwriting municipal bonds. It said the stable outlook assumes Assured will keep insuring predominantly investment-grade municipal bonds and maintain strong financial flexibility.
For the complete article.
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| Stuff to look at |
Yield and Income Newsletter: A must have for income investors. subscribe NOW
S&P Commentary and Newsletters: S&P
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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