Wednesday, March 5, 2008

Ambac to basics

Ambac to raise $1.5 bln selling common stock, equity units

Ambac, one on the largest bond insurers in the US pulls out of the structured product market and returns to the basics of guaranteeing bonds. Interestingly, the rating agency Fitch responds immediately by saying that Ambac is still on negative watch until uncertainties have abated. Sounds to me like Ambac is runnning as fast as it can to stand still, and is very close to stopping completely. Another major step in the return to normality from the credit bubble years.

Posted by jackas @ 06:53 PM (321 views)
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