municipal bond insurance News

Municipal Bond Insurance Industry Busier Than Ever After Decade-Long Slump

As the coronavirus pandemic rips through the finances of state and local governments, municipal-bond insurers are busier than they’ve been in years. Since early May, about 10% of new bond sales have been offered with insurance, nearly double the average …

ACA Financial Sues Virginia City Over Muni Bond Default

The Blue Ridge mountain hamlet of Buena Vista, Virginia, is in danger of having its City Hall, police headquarters and municipal golf course seized for defaulting on its debt. The city, with 6,600 residents, has failed for more than a …

Va. City Could Face Foreclosure on City Hall Over Bond Debt, Insurer Says

An insurance company says Buena Vista, Virginia, could face foreclosure on its city hall and police department if a bond debt isn’t paid. The Roanoke Times reports that ACA Financial Guaranty Corp. sent a letter on Tuesday to City Council …

Municipal Bond Insurance Sales Expected to Rise With Interest Rates

Demand for municipal bond insurance is poised to increase as rising interest rates reduce investor appetite for riskier state and local debt, according to Janney Montgomery Scott. Bond insurance accounted for 4.4 percent of new muni issuance last quarter, up …