Ambac Assurance Corporation

Ambac Assurance Corporation

A subsidiary of publicly traded Ambac Financial Group that provides financial guarantees for municipal borrowers and for asset-backed and structured issues. Ambac was founded in 1971 as a subsidiary of MGIC Investment Corporation and later owned by Baldwin-United and Citibank. Formerly called American Municipal Bond Assurance Corporation.
References in periodicals archive ?
Ambac's principal operating subsidiary, Ambac Assurance Corporation, is a guarantor of public finance and structured finance obligations.
The principal terms of the settlement offer include: (i) a payment by the Segregated Account of Ambac Assurance Corporation (the "Segregated Account") of $100 million; (ii) a payment by Ambac Financial of $1.
OTC: ABKFQ) ("Ambac Financial") today announced that it has reached an agreement with Ambac Assurance Corporation ("Ambac Assurance"), the Segregated Account of Ambac Assurance Corporation, the Commissioner of Insurance of the State of Wisconsin, the Rehabilitator of the Segregated Account of Ambac Assurance Corporation, and the Official Committee of Unsecured Creditors of Ambac Financial Group, Inc.
NEW YORK -- Ambac Assurance Corporation (Ambac) today announced that effective June 2, 2011, the Commissioner of Insurance for the State of Wisconsin, Theodore K.
NEW YORK -- Ambac Assurance Corporation (Ambac) today announced that, based on conversations with the Special Deputy Commissioner for the Segregated Account of Ambac Assurance Corporation (Segregated Account), it no longer expects that the Segregated Account will begin paying policy claims in May 2011 as previously announced.
NEW YORK -- Ambac Assurance Corporation today announced that, based on conversations with the Special Deputy Commissioner for the Segregated Account of Ambac Assurance Corporation (Segregated Account), it currently expects the Segregated Account will begin payment of policy claims in May 2011.
Ambac Assurance Corporation (AAC) is the principal operating insurance company of Ambac.
Americas Determinations Committee involving Ambac Assurance Corporation that occurred on March 25, 2010.
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.
Ambac's principal operating subsidiary, Ambac Assurance Corporation, is a leading guarantor of municipal and structured finance obligations.
The 'AAA' rating on the certificates reflects our assessment of the likelihood of repayment of principal and interest based on the bond insurance policy provided by Ambac Assurance Corporation (Ambac), whose claims paying ability is rated 'AAA' by Fitch.
The long-term 'AAA' rating on the bonds continues to be based on the municipal bond insurance policy issued by Ambac Assurance Corporation, which insures scheduled payments of principal and interest on the bonds.