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Insured bond |
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Insured bond A municipal bond backed both by the credit of the municipal issuer and by commercial insurance policies.
Insured bond. An insured bond is a municipal bond whose interest and principal payments are guaranteed by a triple-A rated bond insurer. Insurance protects municipal bondholders against default by the issuer and protects bonds in case they're downgraded by ratings agencies, which can decrease market value. Insured bonds generally offer a slightly lower rate of interest than uninsured bonds. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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It has also foraged in the realm of double-A rated bonds, which are one rank below triple-A and produce lower premiums than the typical insured bond, which is in the range of single-A to triple-B. This is the first insured bond issue for a football club in Europe and is secured by the ticket revenue streams achieved by the stadium. ``I think that the premium is large for an insured bond,'' said William Fitzgerald, a portfolio manager at John Nuveen & Co. |
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