Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Ambac Financial Group, Inc. > News item |
S&P affirms Ambac Assurance
Standard & Poor's said it removed from CreditWatch with negative implications the AAA issuer credit ratings of Ambac Assurance Corp. and the AA issuer credit rating of holding company Ambac Financial Group Inc.
The outlook is negative.
The actions follow Ambac Financial's success in raising $1.5 billion in capital, consisting of $1.25 billion in common equity and $250 million of equity units.
Proceeds will help boost increase Ambac Assurance's capital position.
S&P said raising capital is a component of the insurance company's strategy to manage its capital position relative to projected stress case losses.
The negative outlook reflects the potential for further mortgage market deterioration, which could challenge bond insurers' ability to gauge ongoing capital needs accurately in the near term, according to the agency.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.