S&P Global Ratings has affirmed the AA financial strength, financial enhancement and issuer credit ratings of Assured Guaranty’s insurance subsidiaries and the A issuer credit rating of AGL.

The outlooks remain stable for the Bermudian-based holding company.

The credit ratings agency has highlighted Assured Guaranty’s capital and earnings as excellent, its capital adequacy redundancy above AAA stress level and its competitive position as very strong.

They also listed Assured Guaranty’s liquidity as exceptional and did not foresee any longer-term material liquidity risks.

In response to the report, Dominic Frederico, president and chief executive of Assured Guaranty, said: “We are the leader in United States municipal bond insurance and continue to pursue our growth strategies across our business lines, while expanding our geographic reach and product offerings.”

He said the insurer had recently entered the annuity reinsurance market through the launch of a new subsidiary, Assured Life Re.

“We are positioned well to participate in this market,” Mr Frederico said.