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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
A municipal debt obligation for which interest and principal are guaranteed by a private insurance company. Municipal issuers pay a premium to purchase the insurance in order to obtain a higher credit quality rating and a lower rate of interest on the debt.
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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.
ORANGE COUNTY'S BOND INSURER BETS ON DIVERSIFICATION by Daily News (Los Angeles, CA)
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.
Ambac Guarantees First Bond For a UK Football Stadium by Business Wire
``I think that the premium is large for an insured bond,'' said William Fitzgerald, a portfolio manager at John Nuveen & Co.
ORANGE COUNTY BOND SALE CALLED SUCCESSFUL, BUT COSTLY by Daily News (Los Angeles, CA)
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