Moody's Places Ambac (ABK) On Review for Possible Downgrade
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Moody's Investors Service placed the Aaa insurance financial strength ratings of Ambac Assurance Corporation and Ambac Assurance UK Limited on review for possible downgrade. In the same rating action, Moody's also placed the debt ratings of Ambac Financial Group, Inc. (NYSE: ABK) and related financing trusts on review for possible downgrade.
Today's rating action reflects Moody's growing concerns regarding Ambac's overall credit profile, including the company's significantly constrained new business prospects and financial flexibility, as well as possible increased expected and stress loss projections among its mortgage-related risk exposures.
Today's rating action reflects Moody's growing concerns regarding Ambac's overall credit profile, including the company's significantly constrained new business prospects and financial flexibility, as well as possible increased expected and stress loss projections among its mortgage-related risk exposures.
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