HAMILTON, Bermuda _ Assured Guaranty Ltd. on Thursday reported fourth-quarter net income of $532 million. On a per-share basis, the Hamilton, Bermuda- based company said it had profit of $3.28. Assured Guaranty shares have risen 1.5 percent since the beginning of the year.
SAN JUAN, Jan 28- Puerto Rico is negotiating with at least two bond insurers to insure around $500 million of a planned $2 billion bond issue, which would extend the appeal of the sale beyond the hedge funds currently buying the U.S. commonwealth's debt, according to two sources close to the process. The island's Government Development Bank is in talks with MBIA's...
Dec 23- Mortgage insurer Radian Group Inc said it would sell its bond guaranty business to Assured Guaranty Ltd for $810 million to focus on mortgages and real estate and comply with proposed changes to rules governing private mortgage insurers. The U.S. Federal Housing Finance Agency has proposed rules to tighten capital requirements for private insurers...
Dec 23- U.S. private mortgage insurer Radian Group Inc said it would sell its financial guaranty insurance unit to Assured Guaranty Ltd for $810 million.
Nov 26- Credit Suisse Group AG has reached a confidential settlement with Assured Guaranty Ltd on claims related to what the insurer said were defective loans underlying mortgage-backed securities, court documents showed. Assured Guaranty said it had filed to dismiss its lawsuit against Credit Suisse, according to a statement on its website.
A pair of big bond insurers with more than $10 billion of exposure to Puerto Rican debt have hired restructuring advisers.
Mutual funds that hold municipal bonds in Puerto Rico are suing the commonwealth over its newly passed law dealing with bankruptcy.
Detroit has reached a settlement with bond insurers over treatment of the city's bankruptcy debt, emergency manager Kevyn Orr told CNBC.
CEO Brian Moynihan said the bank faces up to an additional $9 billion in costs related to the financial crisis and mortgages beyond its reserves.
Companies making headlines after the bell Monday:
The "Fast Money" traders share their final trades of the day.
If Detroit gets its way in bankruptcy court, the cost of borrowing for cities and states could spike, the CEO of bond insurer Assured Guaranty warns on CNBC.
Dominic Frederico, CEO, Assured Guaranty Ltd., talks about his company's exposure in light of Detroit's bankruptcy. The solution has to involve growth, at some level, says Frederico. With Wilbur Ross.
Detroit has become a pariah of the muni world, but analysts are holding out hope that the nation's largest government bankruptcy isn't contagious.
Detroit said it would stop making some debt payments and asked creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy filing in US history.
There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.
Investors are positioning for a rally in Assured Guaranty, which trades for barely half its book value.
NEW YORK, Oct 10- Flagstar Bancorp Inc had to know by 2009 that hundreds of loans it originated didn't meet underwriting guidelines when it sold $900 million in mortgage-backed securities to investors, a lawyer for a bond insurer said on Wednesday.
Ambac Financial Group, the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase to recover losses on mortgage securities that it insured and were made by the former Bear Stearns.
Billionaire investor Wilbur Ross told CNBC Tuesday he was not perturbed by last week's volatile market swings.