Assured Guaranty is set to provide an insurance policy for $219.8 million of special transportation project revenue bonds issued by the Maryland Department of Transportation. This news was clarified on November 22, 2024. The bonds are intended for improvements at BWI Airport.
S&P Global Ratings is expected to assign an insured rating of AA to these bonds. This rating will be based upon the policy issued by Assured Guaranty at the time of delivery of the Series 2024A Bonds. The credit enhancement provided by Assured Guaranty helps ensure favorable terms for the bond issuance.
This transaction represents a new contract win for Assured Guaranty in the U.S. public finance market. It demonstrates the continued demand for the company's financial guaranty products in supporting essential public infrastructure projects. Such deals contribute to Assured Guaranty's new business production and market presence.
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