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KBRA Assigns Preliminary Long-Term Credit Rating of AA with a Stable Outlook to Fidus Re Ltd.’s Series 2021-1 Class A Principal-at-Risk Variable Rate Notes


NEW YORK–()–Kroll Bond Rating Agency (KBRA) assigns a preliminary long-term credit rating of AA with a Stable Outlook to Fidus Re Ltd.’s Series 2021-1 Class A Principal-at-Risk Variable Rate Notes due January 11, 2033.

Build America Mutual Assurance Company (“BAM” or the “Ceding Insurer”), a mutual financial guaranty company, sponsored the issuance of variable rate notes (“Notes”) through an off-shore (Bermuda) bankruptcy remote special purpose insurer, Fidus Re Ltd. (“Fidus” or the “Issuer”). This is the second issuance of notes by the Issuer (the Fidus Series 2018-1 Notes are rated AA/Stable by KBRA). The Note proceeds are held in a Collateral Account and invested in high quality, liquid…



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