Build America Mutual Assurance Company (BAM) is the first mutual municipal bond insurance company. Our mission is to deliver ... market access and substantial interest cost savings for issuers of U.S. Municipal bonds and durable protection against loss for municipal bondholders. We guarantee timely payment of scheduled principal and interest payments when due on U.S. municipal bonds, exclusively. BAM is rated AA/Stable by S&P and sponsored by the National League of Cities. Licensed in all 50 states. read more