NEW YORK – S&P Global Ratings this week 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” and “very strong competitive position, supported by its strong presence in the U.S. public finance market.” In addition, S&P’s analysts identified BAM’s “conservative underwriting with a focus on the lower-risk sectors of the U.S. public finance market” as a key strength for the rating, and said BAM’s liquidity is “exceptional.”

The S&P review was conducted following the adoption of revised criteria for analyzing insurers’ risk-based capital, “which led to nonmaterial changes in [the agency’s] criteria for analyzing bond insurers’ capital adequacy” and did not affect S&P’s analysis of BAM’s financial strength.

The full report can be viewed on BAM’s website.

About Build America Mutual

BAM is a mutual bond insurance company operated for the benefit of its members – the cities, states and other municipal entities that use BAM’s financial guaranty to lower their cost of borrowing.  BAM is the preferred provider of bond insurance for the National League of Cities. As of December 31, 2023, there were more than $100 billion of BAM-insured municipal bonds outstanding for more than 5,300 member-issuers. Learn more at https://live-bambondscom.pantheonsite.io/mission/

For more information, please contact:

Michael Stanton, Head of Corporate Strategy and Communications

212-235-2575; mstanton@buildamerica.com