...In the past year, a number of financial guaranty insurers recorded significant mark-to-market losses relating to derivative contracts (principally credit default swaps ( CDS")) written to provide protection to investors in various types of structur ed financings. The magnitude of these charges has raised reasonable questions among some investors about the nature and degree of exposures at fi nancial guarantors, as well as some confusion about how to interpret this information in the context of a guarantor s financial strength. ...

Report Type: Special Comment
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