More Ambac
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.
More on this topic
(What's this?)
Ambac Reverses Course, Decides Not to Split
(naked capitalism, 3/4/08)
Ambac Equity Raising Only 60% of Earlier Target
(naked capitalism, 3/5/08)
S&P Affirms Triple-A Ratings Sending Stocks Soaring
(Money Morning, 2/26/08)
