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MOODY'S PUBLISHES BOND INSURERS 1991 ANNUAL REPORT

 MOODY'S PUBLISHES BOND INSURERS 1991 ANNUAL REPORT
 NEW YORK, May 4 /PRNewswire/ -- Moody's Investors Service today


released its 1991 annual report on the bond insurance industry. The 68- page report includes an overview of the industry as well as write-ups on the five bond insurers rated "Aaa" by Moody's: AMBAC CapMAC, FGIC, FSA, and MBIA.
 Naomi Richman, vice president and assistant director, said, "The report highlights the insurers' 1991 underwriting activity and financial performance. It also focuses on some of the year's major trends including shifts in ownership and capital structure, and the expansion of the insurers outside the United States."
 According to Moody's, a significant trend for the bond insurers is an overall improvement in the credit quality of insured municipal issues. The report states that "On an industry-wide basis, the percentage of the four primary municipal insures' portfolios that is rated "A" or better has increased from 68.7 percent...overall to 76.5 percent for 1991."
 The report also focuses on the surveillance activities of the insurers, stating "the practice of on-going surveillance is a common and vital aspect of the underwriting procedures of each of the four municipal insurers."
 -0- 5/4/92
 /CONTACT: Naomi Richman vice president and assistant director, 212-553-0014; or Laura Levenstein vice president, 212-553-0319 both of Moody's/ CO: Moody's Investor Service ST: New York IN: FIN SU:


SH-LR -- NY073 -- 6094 05/04/92 13:33 EDT
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Publication:PR Newswire
Date:May 4, 1992
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