XL Capital Assurance announced it has received its Aaa' financial guarantor rating from Moody's Investors Service, almost a year after scoring the triple-A from both Fitch and Standard & Poor's.
Despite initial scrutiny from some investors - when XLCA began operating last fall without Moody's seal of approval - the company has successfully closed several asset-backed deals, wrapping more than $3 billion worth of ABS term and conduit proceeds just this year. Additionally, the surety has wrapped $1.1 billion in the project finance market year-to-date.
XLCA has made several key hires of late, most recently Deborah Murnin, as a vice president in the consumer asset-backed finance group. Murnin, an alumni of Chase Securities, reports to Peggy Wallace, also an ex-JP/Chase banker. Wallace, a managing director at XLCA, joined the company in August.