Assured Guaranty Ltd. (NYSE: AGO) ("Assured Guaranty” or the "Company”)
today announced that the re-listing of the following debt securities
(the "Securities”) on the New York Stock Exchange (the "NYSE”) of
Assured Guaranty’s subsidiary, Financial Security Assurance Holdings
Ltd. ("FSAH”), may not be completed until the end of the first quarter
2010 or March 31, 2010:
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Security
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Former NYSE Symbol
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Current FINRA Symbol (TRACE)
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Maturity Date
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CUSIP
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6-7/8% Quarterly Interest Bonds due 2101
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FSB
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FSB.GB
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December 15, 2101
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31769P407
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6.25% Notes due 2102
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FSE
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FSB.GC
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November 1, 2102
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31769P506
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5.60% Notes due 2103
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FSF
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FSB.GD
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July 15, 2103
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31769P605
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Assured Guaranty is in the process of preparing a filing with the U.S.
Securities and Exchange Commission ("SEC”) in connection with the
re-listing that contains certain FSAH historical financial information
for the quarter ended June 30, 2009, which was prior to the Company’s
acquisition of FSAH. As a result, the Company anticipates the re-listing
of the Securities to be completed by March 31, 2010 or end of the first
quarter 2010. The Company had previously announced that it expected the
re-listing of the Securities to be effective by the end of 2009.
The Securities have been fully and unconditionally guaranteed by the
Company. The re-listing of the Securities will not affect the guaranty,
which will remain in full force and effect, or any of the other terms of
the Securities. Current trading information on these Securities is
available on the Financial Industry Regulatory Authority ("FINRA”)
website at: http://cxa.marketwatch.com/finra/bondcenter/default.aspx
The re-listing will be subject to the approval of the NYSE and the SEC,
once the required financial information and other necessary information
has been filed.
Assured Guaranty Ltd. is a Bermuda-based holding company. Its operating
subsidiaries provide credit enhancement products to the U.S. and
international public finance, structured finance and mortgage markets.
Cautionary Statement Regarding Forward-Looking Statements:
Any forward-looking statements made in this press release reflect
Assured Guaranty’s current views 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 Guaranty’s forward-looking statements could be affected
by: (1) rating agency action, including a ratings downgrade at any time
of Assured Guaranty Ltd. or any of its subsidiaries and/or of
transactions insured by such subsidiaries, both of which have occurred
in the past; (2) developments in the world's financial and capital
markets that adversely affect issuers’ payment rates, Assured Guaranty’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; (3) changes in the credit
markets, segments thereof or general economic conditions; (4) more
severe or frequent losses affecting the adequacy of Assured Guaranty’s
loss reserve; (5) the impact of market volatility on the mark-to-market
of its contracts written in credit default swap form; (6) reduction in
the amount of reinsurance facultative cessions or portfolio
opportunities available to Assured Guaranty; (7) decreased demand or
increased competition; (8) changes in applicable accounting policies or
practices; (9) changes in applicable laws or regulation, including
insurance and tax laws; (10) other governmental actions;
(11) difficulties with the execution of Assured Guaranty’s business
strategy; (12) contract cancellations; (13) Assured Guaranty’s
dependence on customers; (14) loss of key personnel; (15) adverse
technological developments; (16) the effects of mergers, acquisitions
and divestitures; (17) natural or man-made catastrophes; (18) other
risks and uncertainties that have not been identified at this time;
(19) management's response to these factors; and (20) other risk factors
identified in Assured Guaranty’s filings with the Securities and
Exchange Commission. Readers are cautioned not to place undue reliance
on these forward-looking statements which are made as of December 4,
2009. Assured Guaranty undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
