The College Construction Loan Insurance Association's initial attempts to move into the A-rated bond insurance market appear to have foundered, thanks to an intense lobbying effort by industry participants.

Sources on Capitol Hill and in the bond insurance industry Friday said the Senate's version of the proposed amendment would require any A-rated bonds insured by Connie Lee, as the federal corporation is known, to first be declined by each and every monoline bond insurance company now backing municipal bonds.

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