Turning briefly to the structured finance and international markets, our near term structured finance opportunities are primarily in non-cash bilateral trade with large financial institutions looking to manage their capital more efficiently. In international business, we've seen a steady increase of European public finance transaction increase as banks continue to reduce their long-term infrastructure lending. We continue to look forward to increased opportunities in both of these areas over the next 12 months.As most of you know, Moody’s placed our ratings on review for possible downgrade at the end of March. I want to emphasize in U.S. municipals we still insured 445 primary and secondary market transactions totaling $4.7 billion of par even with the uncertainty caused by Moody’s action, proving once again the value and resiliency of our products. We believe that by far the most important reason for any downward pressure on insured market penetration is the unprecedented low interest rate environment.
Assured Guaranty's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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