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U.S. Municipal Bond Insurance

 

FSA is one of the leading insurers of U.S. municipal bonds. We guarantee general obligations and other tax-backed issues as well as tax-exempt and taxable revenue bonds in all the major municipal sectors, including utilities, health care, housing, transportation and education. Our guaranty is available for both new issues and those already trading in the secondary market.

We have a deep bench of experienced municipal underwriters committed to providing the industry's most creative, responsive service. In addition to the large municipal department in our New York headquarters, we maintain the industry's only fully staffed western regional office, in San Francisco, and a marketing office in Dallas to serve the southern states.

Related Services

  • Through our affiliation with Dexia, we can help arrange combined credit enhancement and liquidity solutions for issuers of variable rate demand bonds
  • For municipalities seeking to protect bond proceeds until the funds are needed, FSA guarantees customized investment products issued by our Financial Products group.
  • FSA's Sure-Bid program offers issuers an extra advantage by attracting more bids for competitive issues and simplifying administrative procedures.

Featured Transaction

Seeking a cost-effective way to replace commercial paper with long-term capital funding for MARTA, the rapid transit authority serving metropolitan Atlanta, financial advisor Public Financial Management turned to FSA for two types of financial guarantees. First, we guaranteed principal and interest of the bonds to assure strong market execution. Second, we provided a surety policy as a substitute for a cash-funded debt service reserve, which optimized the use of proceeds. The high-quality bonds are backed by retail sales tax revenues, a reliable source for the capital needs of a still-growing bus and rail system.