NU Online News Service, Sept. 27, 11:11 a.m. EDT
Radian Group Inc. and the National League of Cities (NLC) say they are exploring the formation of a new public-finance mutual bond insurance company.
The agreement involves the NLC and Radian's financial guaranty subsidiary, Radian Asset Assurance Inc. Radian and NLC say they are still working on the details of the structure, but they anticipate it will involve the support of private capital from third-party investors.
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