Ambac (ABK) isn’t trading yet, but MBIA (MBI) is faring well. The market is apparently disappointed that the announced deal was not a simple bail out. The AAA rating isn’t in the bag, either. Fitch has ABK on watch negative, and ABK doesn’t expect to get a stable outlook from S&P or Moody’s. Oops, as I type ABK opens back up for trading and is immediately down over 12%. More later.
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More on this topic
(What's this?)
Ambac Reverses Course, Decides Not to Split
(naked capitalism, 3/3/08)
Ambac Equity Raising Only 60% of Earlier Target
(naked capitalism, 3/5/08)
Could Goebbels Make Ambac Fly?
(, 3/6/08)
