Assured Guaranty (AGO) is the leading bond insurance company in the United States. The company leverages an AA+ (Kroll) and AA (S&P) credit rating to insure bonds, generally on BBB and higher-rated credits. Most of the business is U.S. public finance, but the company is growing in international infrastructure, while also having a structured finance operation that is opportunistic. As of the end of the 3rd quarter of 2019, financial guaranty net par outstanding was $229.375 billion, and claims-paying resources were $11.075 billion. The insured portfolio has an average internal rating of