Ambac Comments on Standard & Poor's Report on Capital
19 Dicembre 2007 - 8:08PM
Business Wire
Ambac Financial Group, Inc. (NYSE: ABK) (�Ambac�) today said that
Standard & Poor�s Ratings Services (�S&P�) has completed
its review of Ambac Assurance Corporation�s capital position and
has affirmed the Company�s AAA rating with a negative outlook.
Chairman and CEO, Robert J. Genader, noted �We are satisfied with
the AAA rating affirmation. We are confident the performance of our
insured portfolio and the measures being taken to expand Ambac�s
capital position will be sufficient to return our outlook to
stable.� Mr. Genader added, �We expect the current environment of
wide credit spreads to remain in place throughout 2008 and our
triple-A rated claims-paying strength puts us in a unique position
to capitalize on business opportunities in this environment.� Ambac
continues to investigate a number of solutions to expand its
capital position. In determining the best capital expansion
alternatives, Ambac�will consider a number of factors including the
results of its own ongoing evaluation, the results of the
evaluations performed by each of the rating agencies, and the
potential for future growth of its business. Certain statements in
this document are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may differ
materially from those included in these statements due to a variety
of factors. More information about these factors is contained in
Ambac's filings with the Securities and Exchange Commission. Ambac
Financial Group, Inc., headquartered in New York City, is a holding
company whose affiliates provide financial guarantees and financial
services to clients in both the public and private sectors around
the world. Ambac�s principal operating subsidiary, Ambac Assurance
Corporation, a leading guarantor of public finance and structured
finance obligations, has earned triple-A ratings, the highest
ratings available from Moody�s Investors Service, Inc., Standard
& Poor�s Ratings Services and Fitch, Inc. Ambac Financial
Group, Inc. common stock is listed on the New York Stock Exchange
(ticker symbol ABK).
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