We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
White Moutains Insurance Group Ltd | NYSE:WTM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,825.00 | 0 | 01:00:00 |
S&P Global Ratings announced that it has affirmed Build America Mutual’s AA rating and stable outlook, the strongest rating S&P assigns to any active bond insurer.
“BAM is a mutual bond insurer writing business solely in the U.S. public finance market with a broad, well-diversified presence across the U.S.; its insured portfolio comprises primarily general obligation bonds for school districts and municipalities, which somewhat lessens the volatility of its insured portfolio,” S&P wrote in its report. In response to the COVID-19 pandemic, S&P performed a stress test on BAM’s portfolio and concluded that: “BAM's underwriting and risk-management guidelines result in an insured portfolio that does not reflect the overall U.S. municipal market and may perform better in a stressful economic scenario.”
“S&P’s analysis recognizes BAM’s ‘excellent capital and earnings’ and low-risk insured portfolio that consists exclusively of bonds from the safest sectors of the U.S. municipal market,” said BAM Chief Executive Officer Seán W. McCarthy. “As a mutual insurer, those strengths translate into a strong, durable guaranty for municipal bond investors and our issuer members.”
About Build America Mutual
BAM is a mutual bond insurance company operated for the benefit of its members – the cities, states and other municipal entities that use BAM’s financial guaranty to lower their cost of borrowing. BAM is the official provider of bond insurance for the National League of Cities, and was launched in 2012 with initial capital provided by subsidiaries of White Mountains Insurance Group, Ltd. (NYSE:WTM)
Through March 31, 2020, BAM has insured more than $75 billion of municipal securities in more than 8,500 primary and secondary market transactions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200630005250/en/
Michael Stanton, Head of Corporate Strategy and Communications 212-235-2575; mstanton@buildamerica.com
1 Year White Moutains Insurance Chart |
1 Month White Moutains Insurance Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions