Ambac And MBIA Financial Strength Ratings Lowered To ?AA? And Placed On CreditWatch Negative - 2008/06/05 - S&P Credit Research

Report title: Ambac And MBIA Financial Strength Ratings Lowered To ?AA? And Placed On CreditWatch Negative

from S&P Credit Research
580 word report published Jun 05, 2008

Price $100.00 available for immediate download

Report Overview

Search Inside

About S&P Credit Research

Abstract:

NEW YORK (Standard&Poor's) June 5, 2008--Standard&Poor's Rating Services today lowered its financial strength ratings on Ambac Assurance Corp. and MBIA Insurance Corp. to 'AA' from 'AAA' and placed the ratings on CreditWatch with negative implications. The ratings on the holding companies, Ambac Financial Group and MBIA Inc., have also been lowered to 'A' and 'A-' from 'AA' and 'AA-', respectively, and placed on CreditWatch with negative implications. The rating actions on the companies reflect our belief that these entities will face diminished public finance and structured finance new business flow and declining financial flexibility. In addition, we believe continuing deterioration in key areas of the U.S. residential mortgage sector and related CDO structures will place increasing

Brief Excerpt:

RESEARCH Ratings Definitions Ambac And MBIA Financial Strength Ratings Lowered To aÇÿ###ÇÖ And Placed On CreditWatch Negative Publication date: 05-Jun-2008 Primary Credit Analysts: Dick P Smith, New York (1) 212-438-2095; dick_smith@standardandpoors.com...

Report Type:

Ratings Action

Ticker:

3432Z

Issuer:

Ambac Assurance Corp.

GICS:

Property & Casualty Insurance (40301040)

Sector:

Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, Insurance, International Public Finance, Public Finance, Residential MBS, Structured Finance, Utilities

Country:

United States

Region:

United States

Free Sample:

Click Here to Download

Format:

HTML

Enter the keyword(s) which you would like to search for within this document and click "Search"

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

Also from S&P Credit Research

Ambac Assurance Corp. Counterparty Credit Rating Lowered To 'SD'; Financial Strength Rating Placed On Watch Positive $100.00
-- Ambac announced that it has commuted four collateralized debt securities, resulting in cash payments of $520 million, substantially less than the Standard&Poor's expected loss on those exposures. -- We are lowering the counterparty credit ...
Research Update: Ambac Assurance Corp. Counterparty Credit Rating Lowered To 'SD'; Financial Strength Rating Placed On Watch Positive $175.00
Ambac announced that it has commuted four collateralized debt securities, resulting in cash payments of $520 million, substantially less than the Standard&Poor's expected loss on those exposures. We are lowering the counterparty credit and ...
Ambac Assurance Corp. $400.00
Problem credits within the insured portfolio are currently limited to 2005–2007 vintage residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs) of asset-backed securities (ABS). Conservative investment philosophy ...
Summary: Ambac Assurance Corp. $175.00
The 'CC' rating on Ambac Assurance Corp. reflects Standard&Poor's Ratings Services' view that the company is effectively in runoff and in a weakened financial position. Although the company has received regulatory approval to release contingency ...
Ambac Assurance Corp. Credit Rating Outlook Revised To Negative; Ratings Affirmed $100.00
Ambac Assurance Corp. continues to experience adverse loss development in its insured book of business. We will view additional CDO of ABS commutations as distressed exchanges, and we believe that further losses and reserve additions and impairments ...
Research Update: Outlook On Ambac Assurance Corp. Credit Rating Revised To Negative; Ratings Affirmed $175.00
Ambac Assurance Corp. continues to experience adverse loss development in its insured book of business. We will view additional CDO of ABS commutations as distressed exchanges, and we believe that further losses and reserve additions and impairments ...
Ambac Assurance Corp. Downgraded To 'CC' From 'BBB'; Outlook Developing $100.00
Ambac Assurance Corp. continues to experience adverse loss development in its insured book of business. We believe it is now likely that losses and reserve additions and impairments will deplete policyholders' surplus to levels below the regulator-required ...
Research Update: Ambac Assurance Corp. Ratings Lowered To 'CC' From 'BBB'; Outlook Developing $175.00
Ambac Assurance Corp. continues to experience adverse loss development in its insured book of business. We believe that it is now likely that losses and reserve additions and impairments will deplete policyholders' surplus to levels below the ...

Price: $100.00

Free Sample

Questions about
this research?

Send page to a friend

Return to
Alacra Company Snapshot

Can't Decide?

Purchasing premium research sight unseen can be intimidating. At Alacra we want you to know what you are getting. Visit our FAQ or ask our Customer Service Team any questions about the report you are considering purchasing.