ACA Holdings Doubles Its First-Quarter Net Income

Smith, Aaron T.
May 2003
Bond Buyer;5/22/2003, Vol. 344 Issue 31641, p6
Trade Publication
American Capital Access Holdings Inc. (ACAH), the parent of the New York bond insurer ACA Financial Guaranty Corp., on reported a net income of 2.6 million dollar on May 15, 2003 for the first quarter, more than double the 1.2 million dollar reported for the same period during 2002. Municipal business of ACAH as well as its structured finance business has doubled. Net income of the company is no longer hampered by expenses related to a reorganization that occurred two years ago, in which employees were laid off and received severance packages. ACAH is rated A by Standard & Poor's Corp. and Fitch Ratings Inc., and is not rated by Moody's Investors Service Inc.


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