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Tag bond insurance

Xenia Defaults, the USDA, Bond Insurance and Novation

Add Xenia Rural Water District’s to the short but growing list of over-leveraged municipal borrowers.  With $143 million in debt and about 9,000 customers, the unfolding socio-gram includes bondholders, bond insurers CIFG and Assured Guaranty, the US Department of Agriculture,… Continue Reading →

Municipal Market Meltdown? Response to Bookstaber

We have two opposing camps in the muni-market at the moment: those who say it is the next systemic shoe to drop and the rating agencies that are systemically raising ratings. Which is right? We have moved from a market… Continue Reading →

Insured, but non-rated municipal bonds

In the aftermath of the bond insurance meltdown investors found that many of their holdings did not have an underlying rating.  Most are small borrowings and in smaller, lower profile communities across the U.S. landscape.  Among them are some gems… Continue Reading →

Download Report: Avery Ranch Road District No.1, Texas

Insured 2007 bonds were sold to finance road construction for the Avery Ranch master planned community north of Austin, Texas.  Download the report.

Download report: Bend Metro Park and Recreation District, Oregon

A sample report on this district’s fiscal condition, 2005 bonds insured by AMBAC, no underlying rating, is available for your review.

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