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Financial Security Assurance Group

Founded in 1985, Financial Security Assurance Group is the first monoline insurance company to focus on financial guarantees for asset-backed securities. Their original owners were a group of institutional investors.

Financial Security Assurance Holdings Ltd., through its principal operating subsidiary, Financial Security Assurance, provides financial guaranty insurance for asset-backed securities, municipal bonds and other structured obligations in the global markets. For investors, their unconditional and irrevocable guaranty provides complete default protection. Additionally, insured bonds tend to retain more market value than comparable uninsured bonds when an underlying issuer is downgraded. Issuers use their guaranty to achieve low-cost funding, broad market access and efficient capital management.

Their dynamic markets are continually generating new demand for guarantees, and they have the financial strength and creativity to develop powerful financial solutions that benefit both issuers and investors.

Financial Security Assurance Group requires its officers and employees to adhere to a Code of Conduct based on the highest principles of honesty and integrity. The firm provides financial guaranty insurance for a broad range of financings, including municipal bonds and loans, asset-backed securities collateralized by consumer or corporate receivables, collateralized debt obligations, international public-sector project financings, credit default swaps and other structured financings.

Financial Security Assurance Group’s basic financial guaranty insurance policy assures that if the issuer of an insured bond cannot make any scheduled principal or interest payment, Financial Security Assurance Group will make the payment on time and in full.

Their guaranty is a form of credit intermediation, bridging differences between the needs of issuers and investors. Issuers enjoy lower funding rates, broader distribution, increased structuring flexibility and access to new markets. Investors receive default protection, enhanced liquidity and relief from diligence and surveillance tasks. Insured bonds also tend to remain liquid and hold market value when the underlying issuer has been downgraded.

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