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Assured Guaranty Ltd. Announces Intention to Re-List Financial Security Assurance Holdings Ltd. Debt Securities on the New York Stock Exchange

Business Wire
posted: 28 DAYS 20 HOURS AGO

Assured Guaranty Ltd. (NYSE:AGO) (“Assured” or the “Company”) today announced that it intends to re-list on the New York Stock Exchange (the "NYSE") the following debt securities (the “Securities”) of Assured’s subsidiary Financial Security Assurance Holdings Ltd. (“FSAH”):

Security  

Former NYSE
Symbol

 

Former FINRA
Symbol

 

Current FINRA
Symbol (TRACE)

  Maturity Date   CUSIP
6-7/8% Quarterly Interest Bonds due 2101  

FSB

  FSAD   FSB.GB   December 15, 2101   31769P407
6.25% Notes due 2102   FSE   FSAH   FSB.GC   November 1, 2102   31769P506
5.60% Notes due 2103   FSF   FSAE   FSB.GD   July 15, 2103   31769P605

The Securities, which were withdrawn from listing on the NYSE by Assured effective July 31, 2009, have been fully and unconditionally guaranteed by Assured. The re-listing of the Securities will not affect the Company’s guaranty, which will remain in full force and effect, or any of the other terms of the Securities.

From the delisting of the Securities from the NYSE until October 15, 2009, the Securities were available for trading on third party quotation systems and prices and trading volumes were available to investors and securities firms on public websites as well as via the third party quotation systems. On October 15, 2009, the Financial Industry Regulatory Authority (“FINRA”) moved the Securities to its Trade Reporting and Compliance Engine (“TRACE”) corporate debt reporting system.

“In order to improve the public price and trading transparency of these Securities, Assured has decided to re-list the Securities on the NYSE,” stated Dominic Frederico, President and Chief Executive Officer of Assured. “As the world’s leading financial guaranty insurer active in the market today, we are deeply committed to providing investors with the information that they need in order to make an informed decision about buying both bonds that we insure as well as our own debt securities.”

Assured expects that the re-listing of the Securities will be effective by the end of the year. The re-listing will be subject to the approval of the NYSE and the U.S. Securities and Exchange Commission.

Assured Guaranty Ltd. is a publicly-traded Bermuda-based holding company (NYSE ticker symbol: AGO). Its operating subsidiaries provide credit enhancement products to the U.S. and international public finance, structured finance and mortgage markets. More information on the Company and its subsidiaries can be found at www.assuredguaranty.com.

Any forward-looking statements made in this press release reflect the current views of Assured with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. For example, Assured’s forward-looking statements, including its statements regarding the expected timeframe of relisting the Securities and the anticipated improvement in the public price and trading transparency of such Securities, could be affected by the actions of governmental regulatory authorities or other self-regulatory organizations; rating agency action, including a ratings downgrade at any time of one or more of Assured’s insurance subsidiaries and/or of transactions that such subsidiaries have insured, both of which have occurred in the past; developments in the world's financial and capital markets that adversely affect issuers’ payment rates, Assured’s loss experience, its ability to cede exposure to reinsurers, its access to capital, its unrealized (losses) gains on derivative financial instruments or its investment returns; changes in the credit markets, segments thereof or general economic conditions; more severe or frequent losses affecting the adequacy of Assured’s loss reserve; the impact of market volatility on the mark-to-market of its contracts written in credit default swap form; reduction in the amount of reinsurance facultative cessions or portfolio opportunities available to Assured; decreased demand or increased competition; changes in applicable accounting policies or practices; changes in applicable laws or regulation, including insurance and tax laws; other governmental actions; difficulties with the execution of Assured’s business strategy; contract cancellations; Assured’s dependence on customers; loss of key personnel; adverse technological developments; the effects of mergers, acquisitions and divestitures; natural or man-made catastrophes; other risks and uncertainties that have not been identified at this time; management's response to these factors; and other risk factors identified in Assured’s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Assured undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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