Financial Guarantees
Municipal FinanceInternational Municipal Finance
International Municipal Finance
FSA's Aaa/AAA/AAA guaranty can help reduce financing costs for public-sector borrowers in countries with investment-grade sovereign ratings. FSA guarantees bonds and other obligations of central governments, local authorities and government-sponsored enterprises, such as government-owned banks. The guaranty helps issuers gain capital market access and achieve broader distribution, whether within a domestic market or in cross-border markets.
Our guaranty is also available to holders of municipal bonds in the secondary market, where, for example, we have insured bonds of a number of Japanese prefectures.
Additionally, through our Credit Solutions group, we insure collateralized debt obligations backed by sovereign (including emerging market) debt and municipal bonds or loans.
Please see our Infrastructure Finance pages for information on project financings, public-private partnerships and other structured financings in the public finance sector.