Standard & Poor's (S&P) has affirmed the 'AAA' financial strength rating for Assured Guaranty Corp. (AGC), the direct financial guaranty insurance subsidiary of Bermuda-based Assured Guaranty Ltd.

S&P also raised AGC's outlook to stable from negative.

Dominic Frederico, president and chief executive officer of Assured Guaranty Ltd. said: "S&P's announcement is a confirmation of our progress in achieving our strategic goals for our direct platform and represents the latest of our many accomplishments since our initial public offering. Now that AGC is rated 'AAA' with a stable outlook by both S&P and Fitch, two of the world's leading credit rating agencies, we are well positioned to continue the expansion of our direct operations."