Moody's issues negative report on muni-bond insurance industry

Moody's Investors Service published a report questioning the future financial health of National Public Finance Guaranty and Assured Guaranty. "Our view is that when penetration keeps going down, this continues to add pressure on the bond insurance industry," wrote Stanislas Rouyer, associate managing director at Moody's. "The municipal debt market appears to have largely adjusted to a world with limited credit enhancement."

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