Financial Guaranty Insurance Corp. has made good on its promise to expand outside of home equity in the ABS market. The newly staffed-up monoline wrapped its first-ever rental car deal for AESOP, the issuance vehicle of Avis Rent A Car, a subsidiary of Cendant Corp.

This is also FGIC's first ABS wrap since mid-last year, prior to the sale of FGIC from GE Capital Corp. to a group of investors led by the PMI Group.

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