Municipal Bond Forum
The s in insurers acronyms
Q
Can you explain why some territorial paper from Guam, Puerto Rico, etc. is listed as being insured by SMBIA, SFSA, SCIFS, etc? Are they the same as MBIA, FSA, etc.?
A
James A. Klotz responds:
Yes, these are the same insurers and the same coverage. The “s” prefix denotes that these securities were insured in the secondary market, not at issuance.
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