Tuesday, July 22, 2008

Assured Guaranty Plunges, Bond Risk Soars on Review

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aMef1JhNKKcQ July 22 (Bloomberg) -- Assured Guaranty Ltd., one of two bond insurers with a AAA ranking from the three major ratings companies, fell as much as 58 percent in New York trading after Moody's Investors Service said it may downgrade the firm. The cost to protect against a default by Assured Guaranty soared to a record. Credit-default swaps on Financial Security Assurance Holdings Ltd., the unit of Europe's Dexia SA that was also placed under scrutiny by Moody's, also rose to a record.