Insurance Company S&P Rating S&P Outlook Moody's Rating Moody's Outlook KBRA Rating KBRA Outlook A.M.
Best Rating
Best Outlook
Assured Guaranty Municipal Corp. (AGM) AA Stable A2 Stable AA+ Stable
Municipal Assurance Corp. (MAC) AA Stable AA+ Stable
Assured Guaranty Corp. (AGC) AA Stable * AA Stable
Assured Guaranty (Europe) plc (AGE UK) AA Stable A2 Stable AA+ Stable
Assured Guaranty (Europe) SA (AGE SA) AA Stable AA+ Stable
Assured Guaranty Re Ltd. (AG Re) AA Stable
Assured Guaranty Re Overseas Ltd. (AGRO) AA Stable A+ Stable

The insurance financial strength ratings (or similar ratings) for AGL’s insurance subsidiaries are shown in the table above. There can be no assurance that any of the rating agencies will not change these ratings in the future or cease to rate one or more of AGL’s insurance subsidiaries, either voluntarily or at the request of such subsidiary.

In November 2018, Assured Guaranty announced the successful combination of its four international financial guarantee insurance companies. Assured Guaranty (London) plc (AGLN), Assured Guaranty (UK) plc (AGUK) and CIFG Europe SA (CIFG EU) have been merged with and into Assured Guaranty (Europe) plc (AGE UK), with AGE UK as the surviving entity. As a result, all obligations and bonds insured by AGLN, AGUK and CIFG EU are insured obligations of AGE UK.

* AGC requested that Moody’s withdraw its financial strength ratings of AGC in January 2017, but Moody’s declined that request. Moody’s continues to rate AGC.