Assured Guaranty (AGO) Sinks On Possible Moody's Downgrade
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Assured Guaranty Ltd. (NYSE: AGO) is trading 48% lower this AM after Moody's said it is reviewing the company's Aaa rating for a possible downgrade.
The firm said, "Today's rating action reflects elevated risks with the financial guaranty insurance market and within Assured's insured portfolio. Moody's said that Assured's credit profile may no longer be consistent with its current ratings given uncertainty about the firm's portfolio risk profile, material shifts in the demand function for financial guarantees, and as observed recently among Assured's competitors -- potential sensitivity of its franchise and financial flexibility if losses continue to rise."
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