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What: Assured Guaranty
So what: S&P downgraded Assured Guaranty from AAA to AA on higher potential losses because of mortgage-backed securities. Later in the day, the company announced it would beat analysts' estimates of earnings in the quarter.
Now what: This is a double-edged sword for investors as the higher guidance is great in the short-term but a lower rating hurts the company's prospects going forward. Ambac Financial
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.
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