Assured Guaranty Scores One From Wilbur Ross (AGO, MBI, ABK)

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By Douglas A. McIntyre Published
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Assured Guaranty Ltd. (NYSE: AGO) may not be the largest household name for a bond insurer or financial guarantor when you consider the woes of Ambac Financial (NYSE: ABK) and MBIA (NYSE: MBI).  But the company just scored a huge win this morning after it has been announced that Wilbur Ross is investing up to $1 Billion in the company.

The initial investment will run some $250 million to be used for purchasing common stock, and then there are performance hurdles and other issues that would allow the company to have another $750 million from Wilbur Ross.

Of course we heard the announcement that another bailout has hit a snag.  Just because one buyer buys a foreclosure on your street doesn’t mean there won’t be more housing pain.  But it may at least help signal that beginning of the end is closer rather than farther away.

Assured Guaranty shares are trading up 11% at $25.39 in early pre-market trading.

Jon C. Ogg
February 29, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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