Global Infrastructure Finance

For more than three decades, Assured Guaranty has worked with local and sovereign governments, regulated utilities, and private-sector developers and operators, along with their bankers and advisors, to reduce the medium- and long-term funding cost of essential projects and services.  We are active in developed countries with investment-grade sovereign ratings in the Americas, Europe and the Asia-Pacific.

Among the issuers who can benefit are:

• Public-private partnerships (PPP/P3)
• Special purpose infrastructure companies/projects
• Essential infrastructure companies/assets (e.g. airports, ports)
• Regulated utility companies
• Renewable energy projects
• Sovereign issuers
• Municipal and local authority issuers
• Government-sponsored enterprises

Guaranteed infrastructure financings have the characteristics to meet fundamental demand from pension funds, insurance companies and other institutional investors seeking long-tenor, low-risk investments that are well matched to distant future liabilities. They also help banks compete for business, increase returns and manage lending capacity.

In addition to unconditionally guaranteeing timely payment of principal and interest, we add value through our credit skills, ability to negotiate documentation appropriate for our guaranty and ongoing surveillance capability. Our guarantees help issuers gain capital market access and achieve broader distribution in both domestic and cross-border markets, while providing investors credit protection and potentially enhanced market liquidity.

Alongside our longstanding U.S. public finance business, Assured Guaranty subsidiaries have written guarantees for sovereign, municipal and public infrastructure financings outside the United States since 1988. Our broad experience encompasses highways, bridges, tunnels, airports, rail projects, hospitals, water and waste management facilities, gas and electric distribution systems, solar power, government buildings, convention centers, stadiums, universities and other infrastructure.

We provide credit enhancement for listed bonds, private placements with sole or a restricted number of institutional investors, and bank loans. We apply our guaranty in both primary and secondary markets and to issues with fixed, floating or inflation-indexed interest rates.

Assured Guaranty subsidiaries have the ability to guarantee qualified infrastructure financings in the United States, United Kingdom and most countries of the European Union, as well as in Australia, New Zealand and certain other developed countries of Asia and the Americas. We maintain close contact with lenders, investors and borrowers in our various markets. 

Eligible infrastructure transactions finance essential public projects or services. We require that both the transaction’s underlying credit quality and the sovereign rating of the country of origin be at least investment-grade, and we apply other criteria appropriate for the transaction’s revenue sources, credit characteristics, transaction structure and expected return. Transaction structures are subject to local regulation, and not all applications of our guarantees can be made available in every jurisdiction.