I know this question is a bit old, but I thought I would reply so hopefully someone else will benefit. I had the same exhaust guard come loose on me recently. The front bolt came out completely and the back one was loose. The best way I found to fix this is to remove both bolts that are holding the larger heat shield (just behind the loose shield). Remove the little bolt in the bottom of the pipe (to give you a little more room). I then used a dremel-type cutting wheel and cut the bracket holding the larger heat sheild to the pipe right beside where it was already welded. After cutting this loose, I was able to rotate the larger heat shield away from the pipe enough to get at the bolts. I removed them and replaced with bolts that had a 10 mm head (instead of the phillips head...so I could get them a bit tighter). I used blue loctite on them when I put them back in, so hopefully they will not back out again. After getting the bolts tight that hold the small heat shield on, I used a little 110 Volt welder and welded the piece I cut back together again. I then put the two brackets around the pipe, put the bolts back in again, and put the little plug bolt back in the bottom of the pipe. I hope this helps someone...
