Ambac (AMBC) Misses Q3 EPS

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Ambac Announces Third Quarter 2018 Results

November 7, 2018 4:05 PM EST

Continued progress towards executing key strategic priorities during the third quarter included:  Significant progress made toward a final resolution of Puerto Rico's debt restructuring with signed COFINA Plan Support Agreement and term sheet  Adversely Classified Credits reduced by $0.8 billion or 6.4% to $11.1 billion  Insured net par reduced by $4.3 billion or 7.5% to $52.2 billion  Executed Auction Market Preferred Shares exchange transaction, simplifying capital structure and capturing a fair value discount of approximately $250 million Net Loss of $(22.2) million or $(0.48) per Diluted Share for the Quarter Ended September 30,... More