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BAM Mutual Launches Bond Insurance for Australia’s Energy Transition and Social Infrastructure Projects

By Michael Stanton

BAM Mutual, the only mutual bond insurer focused on reducing the cost of debt sold for essential infrastructure, is opening a Melbourne office and will begin insuring bonds and loans sold to finance projects in Australia and New Zealand. BAM’s focus will include electricity transmission and distribution networks that support the energy transition, social infrastructure, and transportation facilities.

BAM, Nevada Regional Medical Center Adopt Forbearance Agreement

By Michael Stanton

Build America Mutual and the Nevada Regional Medical Center (“NRMC”) have entered into a forbearance agreement following multiple covenant defaults on debt sold by the City of Nevada, Missouri on behalf of NRMC. There have been no payment defaults on the bonds.

Kroll Bond Rating Agency Assigns Positive Outlook to Fidus Re Series 2021-1

By Michael Stanton

Kroll Bond Rating Agency assigned a positive outlook to its AA rating on Fidus Re’s $150 million Series 2021-1 Notes (Fidus II), and affirmed its AA+ rating on Fidus Re’s $100 million Series 2018-1 Notes (Fidus I) and AA rating on Fidus Re’s $150 million Series 2022-1 Notes (Fidus III).

BAM Insurance Policy Helps Connecticut Fund $398 Million Baby Bond Trust

By Michael Stanton

he State of Connecticut used a debt service reserve fund insurance policy from Build America Mutual as part of a funding solution that allowed the state to launch the Connecticut Baby Bond Trust with an initial deposit of $398 million.

BAM DSRF insurance policies are flexible tools that allow U.S. municipal bond issuers to re-deploy cash from reserve funds for other public purposes, including reducing total outstanding debt, reducing annual debt-service costs, and financing additional essential infrastructure. BAM has issued more than 1,300 DSRF insurance policies for more than $3.7 billion nationwide.

S&P Global Ratings Affirms BAM’s AA Rating and Stable Outlook — July 2023

By Michael Stanton

S&P Global Ratings has published its full annual report on Build America Mutual and affirmed BAM’s AA rating and Stable outlook, the highest rating S&P assigns to any active bond insurer. The report recognized BAM’s “excellent capital adequacy with a buffer above its current rating” and the fact that BAM only insures U.S. municipal bonds, noting that “it has a broad presence across the U.S., and is only exposed to lower-risk sectors … We view BAM’s liquidity as exceptional based on the lack of any credit-sensitive liabilities or collateral-posting requirements, as well as the high-quality investment portfolio.”

BAM Celebrates National Caribbean-American Heritage Month

By Gabriela Rizzo

National Caribbean-American Heritage Month is a time to celebrate the Caribbean-American community’s legacy, history, and achievements. Build America Mutual and our associates are taking the opportunity to celebrate our Caribbean-American colleagues, counterparties, and members and their many contributions

BAM Celebrates Juneteenth 2023

By Gabriela Rizzo

This Monday marks the 158th anniversary of Juneteenth, the official Celebration of Emancipation from Slavery. The municipal bond market will be closed for the day, and Build America Mutual (BAM) is honored to celebrate Juneteenth with our colleagues, counterparties, and members.

BAM Celebrates Pride Month 2023

By Gabriela Rizzo

Build America Mutual (BAM) is honored to celebrate Pride Month and recognize the achievements of our LGBTQ+ colleagues, counterparties, and members. 

BAM Opens Austin Office to Support Texas Municipal Bond Activity

By Michael Stanton

BAM Opens Austin Office to Support Texas Municipal Bond Activity Managing VP Greg Pacifico Continues to Lead TX Public Finance   AUSTIN, TEX., April 14, 2023 – Build America Mutual, the U.S. municipal-only bond insurer, announced the opening of its third regional office in Austin, primarily to support new-issue activity in the fast-growing state and … Continued