Bond Insurer Financial Security Assurance Adds Fourth Triple-A Rating.NEW YORK--(BUSINESS WIRE)--July 9, 1997-- Fitch Investors Service Fitch Investors Service A financial services company best known for the bond ratings it provides investors. Assigns Highest Rating To Claims-Paying Ability Of FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) Bond insurer Financial Security Assurance (FSA) announced today that Fitch Investors Service, Inc. has assigned FSA a claims-paying rating of AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. . The FSA guaranty is already rated Aaa by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. and AAA by Standard & Poor's Ratings Services and Nippon Investors Service. FSA insures $129 billion of principal and interest on assetbacked, municipal and international bonds. The Fitch AAA rating reflects the rating agency's assessment of FSA's capital adequacy, risk management practices, management and business strategy, financial performance, asset quality and ownership structure. "We are pleased to add Fitch to the list of rating agencies that have awarded FSA their highest claims-paying ratings," stated Roger K. Taylor, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , FSA. "We believe this additional endorsement of our capital strength and disciplined approach to underwriting adds to the value of the FSA guaranty," he added. FSA guarantees scheduled payments of principal and interest of municipal bonds and asset-backed securities, including residential mortgage-backed securities. Headquartered in New York, FSA has additional offices in San Francisco and Dallas. It also has a London-based U.K. subsidiary, Financial Security Assurance (U.K.) Limited, and representative offices in Madrid, Paris and Sydney. FSA is a wholly-owned subsidiary of Financial Security Assurance Holdings Ltd. (NYSE NYSE See: New York Stock Exchange :FSA). CONTACT: Betsy Halpern 212/339-3424 |
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