Find the word definition


CIFG 1, a family of financial guaranty companies, was formerly a triple-A monoline insurer. Its mission is to provide global clients with secure and well-capitalized Triple-A credit protection through financial guarantee insurance, reinsurance and other credit enhancement products.

At its height, CIFG was capitalized with nearly $3 billion in claims-paying resources, providing insurance for investment grade transactions in the public finance, project finance and structured finance markets. As a result of the credit crisis of 2007 and the collapse of the mortgage backed securities market, CIFG was downgraded multiple times by all three ratings agencies and eventually had all its ratings withdrawn.