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Public Finance Matters Updates on recent public finance and municipal bond developments

Category Archives: Bond Insurance

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Municipal Bond Interest Paid By a Bond Insurer After an Issuer’s Bankruptcy Discharge Can Remain Tax-Exempt

Posted in Bankruptcy, Bond Insurance, Tax/arbitrage

By LEN WEISER-VARON and MAXWELL D. SOLET In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus on whether municipal bond interest paid by a bond insurer after the bankruptcy plan’s effective date continues… Continue Reading

Different Bond Insurance, Better Ratings – Do Bondholders Need to Consent?

Posted in Bond Insurance

BY LEN WEISER-VARON As reported in the April 21, 2011 Bond Buyer, Assured Guaranty has announced its willingness to  insure directly bonds originally insured by CIFG bond insurance, provided the existing CIFG bond insurance is extinguished.  http://www.bondbuyer.com/issues/120_77/-1025816-1.html  Most CIFG bond insurance policies have been reinsured by Assured since 2009.  CIFG’s ratings have been withdrawn, whereas… Continue Reading