Municipal Assurance Corp. Completes Merger with Assured Guaranty Municipal Corp.

April 1, 2021

On April 1, 2021, Municipal Assurance Corp. (MAC) completed its previously disclosed merger with and into its affiliate Assured Guaranty Municipal Corp. (AGM), with AGM as the surviving company. As a result, all insurance policies issued by MAC have become insurance obligations of AGM. As the surviving company of the merger, AGM has assumed all of MAC’s liabilities.

The insured ratings assigned to MAC-insured securities by S&P Global Ratings (S&P) and Kroll Bond Rating Agency (KBRA) are expected to be unaffected by MAC’s merger with and into AGM because MAC and AGM had the same financial strength ratings from S&P (AA/Stable) and KBRA (AA+/Stable) prior to the merger.

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