BOND INSURANCE Definition

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BOND INSURANCE is insurance purchased by bond issuers to guarantee the timely payment of principal and interest, primarily for municipal bond issues. The Municipal Bond Investment Assurance Corp. (MBIA), Federal Guarantee Insurance Corp. (FGIC) and AMBAC Indemnity Corp. (AMBAC) are among the largest insurers. Insured bonds are rated AAA.

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MEDIUM TERM ASSETS, usually, are those assets that are expected of having a useful life of between six months and two years of the present.

MACRO ENVIRONMENT is the external factors which affect a company's planning and performance, and are beyond its control: e.g, socio-economic, government regulations, legal and technological change.

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