Bermuda | 001-32141 | 98-0429991 | ||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
Item 7.01 | Regulation FD Disclosure. On January 18, 2013, Assured Guaranty Ltd. (the “Company”) issued a press release in response to the January 17, 2013 rating actions taken by Moody’s Investors Service in respect of the Company and its subsidiaries, including the insurance financial strength rating of Assured Guaranty Municipal Corp. (now A2, from Aa3), Assured Guaranty Corp. (now A3, from Aa3) and Assured Guaranty Re Ltd. (now Baa1, from A1). The outlook for the ratings is stable. In the press release, the Company also disclosed that its Board of Directors has authorized a $200 million share repurchase program. This latest repurchase program replaces the prior authorization, under which Assured Guaranty repurchased approximately 2.1 million common shares out of the 5 million common shares authorized. The funds for this program will be provided by Assured Guaranty Ltd. and will have no impact on the capital resources of the Company’s financial guaranty subsidiaries. The repurchase authorization may be implemented in the open market, in privately negotiated transactions, block trades, accelerated repurchases and/or through option or other forward transactions. In addition, the Company announced that it intends to establish in 2013 a new municipal-only financial guaranty insurer in order to increase its public finance market penetration. For additional details, see the copy of the press release, which is attached as Exhibit 99.1 hereto and incorporated by reference herein. |
Item 9.01 | Financial Statements and Exhibits. (d) Exhibits |
Exhibit Number | Description |
99.1 | Press Release dated January 18, 2013 |
Exhibit Number | Description |
99.1 | Press Release dated January 18, 2013 |