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Libertarian Democrat Point Of View (Free subscription) | 21/11/2008
I'm interested in Ambac because of this Alphaville post. Here's the recent reaction to a downgrade from the NY Times: "The big bond insurer Ambac Financial Group said Wednesday that it had agreed to pay $1 billion in cash to counterparties to cancel default protection on $3.5 billion of collateralized debt obligations. Ambac said the settlements should improve the capital position of its insurance...
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Law Blog - WSJ.com (Free subscription) | 20/11/2008
Ambac Financial reached a deal with counterparties to commute four securitized transactions worth about $3.5 billion on Sept. 30 in exchange for a $1 billion cash payment from Ambac Assurance.
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InformedTrades (Free subscription) | 20/11/2008
Standard & Poorâs said Wednesday that it downgraded Ambac Financial and the companyâs main bond insurance unit because the rating agency expects...
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Market Watch (Free subscription) | 19/11/2008
SAN FRANCISCO (MarketWatch) -- Ambac Financial Group Inc. said late Wednesday it has commuted about $3.5 billion in collateralized debt obligation exposure for $1 billion in cash. "As a result of the settlements, Ambac expects to record positive adjustments to its aggregate mark-to-market and impairment reserves," said Ambac in a statement. Market Pulse Stories are Rapid-fire, short news bursts...
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Reuters (Free subscription) | 20/11/2008
NEW YORK (Reuters) - Shares of Ambac Financial Group rose more than 80 percent on Thursday, after it reached an agreement to cancel contracts covering structured debt valued at $3.5 billion, allowing it to reduce loss reserves.
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Market Watch (Free subscription) | 20/11/2008
Standard & Poor’s said Wednesday that it downgraded Ambac Financial and the company’s main bond insurance unit because the rating agency expects more losses from guarantees of mortgage-backed securities and collateralized debt obligations.
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DealBook (Free subscription) | 20/11/2008
The big bond insurer Ambac Financial Group said Wednesday that it had agreed to pay $1 billion in cash to counterparties to cancel default protection on $3.5 billion of collateralized debt obligations. Ambac said the settlements should improve the capital position of its insurance unit, the Ambac Assurance Corporation, which lost its AAA rating on its [...]
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Reuters UK (Free subscription) | 19/11/2008
NEW YORK, Nov 19 (Reuters) - Ambac Financial Group said on Wednesday it has reached an agreement with counterparties to tear up $3.5 billion of its exposures to risky mortgage backed debt, which will improve its capital position.
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Market Watch (Free subscription) | 19/11/2008
SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Wednesday that it downgraded Ambac Financial and the company's main bond insurance unit because the rating agency expects more losses from guarantees of mortgage-backed securities and collateralized debt obligations.
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Business Wire (Free subscription) | 19/11/2008
NEW YORK--(BUSINESS WIRE)--Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced that it has commuted two CDO of CDO of ABS (commonly referred to as CDO-squared) exposures and two high grade CDO of ABS
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TPMmuckraker (Free subscription) | 19/11/2008
This morning, reports the Wall Street Journal, credit rating agency Standard & Poor's sharply downgraded its rating for bond insurer Ambac Financial, anticipating that the company's debt obligations would continue to absorb losses. Why should we care? Because this seemingly...
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Fool.com (Free subscription) | 20/11/2008
Back in July, I caught quite a bit of flak for singling out Ambac Financial as a company that might . Fair enough. Shares almost tripled a month after I made the call."I totally disagree with your views on Ambac. Ambac has taken a beating because of bearish views based on extreme situations," one reader commented. Bingo! What was probably overlooked is whether those "extreme situations" were...
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Law Blog - WSJ.com (Free subscription) | 19/11/2008
Standard & Poor's Ratings Services slapped the key operating unit of bond insurer moved Ambac Financial Group Inc. with a 3-notch downgrade amid the potential for further losses in collateralized-debt obligations.
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A.E. Feldman Blog (Free subscription) | 19/11/2008
... handed more power, reporting directly to the CEO. In keeping with this tend, just this month, Ambac Financial promoted its CRO to Chief Executive. The global financial crisis is dramatically reshaping the financial services industry in the U.S. and around the world. Today, firms are struggling to adjust to the unfolding global economic environment. Executive search firm , A.E. Feldman, reports...
