News
BAM Responds to S&P Global Ratings CreditWatch Action
June 6, 2017

S&P Global Ratings’ decision to place BAM’s rating on CreditWatch Negative represents a departure from their stated criteria and previous communications to the market. BAM’s managing directors said they intend to engage with S&P during the CreditWatch period to demonstrate that BAM’s financial strength and low-risk, low-volatility strategy of insuring…

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S&P Global Ratings Affirms BAM’s AA Rating and Stable Outlook
June 26, 2017

Build America Mutual today announced that S&P Global Ratings affirmed BAM’s AA rating and Stable outlook and removed BAM from CreditWatch. S&P’s decision marks the end of an intensive review of BAM’s first five years of performance and reflects the company’s transition from a “startup” to a “mature company” under…

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BAM Reports Record Quarter for Claims Paying Resources and Statutory Comprehensive Income
May 12, 2017

Gross Par Outstanding Increases to $35.2 Billion as Demand for Insured Bonds Outpaces Overall Municipal Market Volume Build America Mutual announced record results for growth in claims paying resources, statutory comprehensive income,1 pricing, and total premiums in the first quarter of 2017. The results were driven by high investor demand…

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BAM Reports Full Year and Q4 2016 Statutory Financial Results
February 10, 2017

Build America Mutual today filed its Fourth Quarter and Full Year 2016 Statutory Financial Statements, showing total claims- paying resources increased 7% on the year to $643.7 million. Gross par outstanding rose to $33.1 billion. The $14.7 million fourth quarter increase in claims-paying resources is the largest quarterly increase since…

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MMD Adds BAM-Guaranteed Bonds to Insured Yield Curve
April 7, 2017

Thomson Reuters’ Municipal Market Data has revised the criteria for its generic insured yield curves to include bonds guaranteed by Build America Mutual, reflecting the increasing institutional demand for BAM-insured bonds and providing municipal market participants with a more complete way to gauge the relative value of insured and uninsured…

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PFM’s John White Joins BAM’s Board of Directors
January 19, 2017

Build America Mutual, the first mutual municipal bond insurer, today announced that John White, Chairman of the PFM Group, has been elected to join its Board of Directors. As CEO of PFM for more than 30 years, Mr. White played a key role in building its municipal advisory division, Public…

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“Building America … On a Strong Foundation:” BAM’s 2016 Year-End Review
January 3, 2017

Like you, we at BAM are ready to hit the ground running, supporting municipal issuers when they access the market to finance essential public infrastructure. More than 2,200 issuers have already become members of BAM, and we’ve now insured almost $35 billion, after another record year in 2016 ($11.4 billion…

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BAM Reports Third Quarter 2016 Statutory Financial Results
November 3, 2016

Build America Mutual today filed its Third Quarter 2016 Statutory Financial Statements and published its Operating Supplement, reporting a 9.6% increase in gross par outstanding to $30.5 billion. Claims-paying resources rose $11.8 million to $629 million, the largest quarterly increase since the company was founded in 2012. Build America Mutual’s…

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Richard Ravitch Leaves Build America Mutual Board of Directors
September 7, 2016

Build America Mutual (BAM), the first mutual insurer of US municipal bonds, today announced that Richard Ravitch has resigned from its board of directors, effective immediately, to devote more time to his growing public service responsibilities. “Last week, the Governor of Puerto Rico asked me to be his representative on…

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BAM Reports Second Quarter 2016 Statutory Financial Results
August 12, 2016

Build America Mutual on August 10 filed its Second Quarter 2016 Statutory Financial Statements and published its Operating Supplement, reporting an 13% increase in gross par outstanding to $27.8 billion. Claims-paying resources rose $10.1 million to $617.2 million, the largest quarterly increase since the company was founded in 2012. Build…

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S&P Global Ratings Affirms BAM’s AA / Stable Rating
July 29, 2016

S&P Global Ratings affirmed Build America Mutual’s AA rating with a stable outlook, citing the insurer’s “extremely strong” capital, “prudent” underwriting strategy, and a “well-developed strategic plan [that] ensures liquidity of BAM’s insured paper.” In assigning the rating, S&P recognized BAM’s unique mutual structure, which supports BAM’s long-term financial stability…

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City, County Leaders: U.S. Infrastructure Policy Must Protect Tax-Exempt Bonds, Enhance Long- Term Funding
July 21, 2016

Republican elected officials from across the nation explained how infrastructure investments have fueled growth in their local economies, and said those successes support the case for more federal resources for infrastructure, as well as the preservation of tax- exempt municipal bonds in any tax-reform legislation. Their comments came during a…

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Press Release
Contact:

Michael Stanton

Head of Strategy and Communications

212-235-2575