Municipal Assurance Corp (MAC) in New York, NY recently completed a merger with its affiliate Assured Guaranty Municipal Corp (AGM), with AGM as the surviving company. All insurance policies issued by MAC have now become insurance obligations of AGM.
MAC and AGM had the same financial strength ratings prior to the merger, ensuring that the insured ratings assigned to MAC-insured securities are expected to remain unaffected by the merger. Issuers of securities insured by MAC have been notified about the change of insurer through a Notice Regarding Change of Insurer.
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