- In Q1, AGO successfully consummated the settlement of its Puerto Rico GO, PBA, CCDA, and PRIFA exposures.
- This reduced the company's exposure to BIG credits by roughly $1.3B, to under 3% of insured portfolio, for the first time since 2008.
- Higher rates and wider credit spreads should lead to more new business production as issuers look to keep credit costs low.
- The stock trades at only 43.6% of adjusted book value and will likely buy back $500MM of stock this year and again next year.
For further details see:
Assured Guaranty Continued To Compound Intrinsic Value