Summary: Ambac Assurance Corp. - 2008/08/28 - S&P Credit Research

Report title: Summary: Ambac Assurance Corp.

from S&P Credit Research
860 word report published Aug 28, 2008

Price $175.00 available for immediate download

Report Overview

Search Inside

About S&P Credit Research

Abstract:

On Aug. 14, 2008, Standard&Poor's Ratings Services affirmed its 'AA' financial strength rating on Ambac Assurance Corp. (Ambac) and removed it from CreditWatch Negative. The outlook is negative. The negative outlook reflects our view that Ambac's exposure to domestic nonprime mortgages and related exposures to collateralized debt obligations of asset-backed securities (CDO of ABS) has likely damaged its franchise and that the company faces diminished new business flow. Removal of the negative outlook will be dependent on, among other factors, clarification of ultimate potential losses as well as future business prospects, the outcome of strategic business decisions, and potential regulatory developments. The rating affirmation reflects our assessment of Ambac's: Capital position, which we believe to be satisfactory when

Brief Excerpt:

RESEARCH Ratings Definitions Summary: Ambac Assurance Corp. Publication date: 28-Aug-2008 Primary Credit Analyst: Dick P Smith, New York (1) 212-438-2095; dick_smith@standardandpoors.com Secondary Credit Analyst: David Veno, New York...

Report Type:

Summary

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. $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 ...
Ratings On Two Ambac Assurance Corp. Insurance-Supported MTNs Lowered To ?BBB? And Placed On Watch Negative $100.00
NEW YORK (Standard&Poor's) July 9, 2009--Standard&Poor's Ratings Services today lowered its long-term ratings on two medium-term note (MTN) issues supported by Ambac Assurance Corp. insurance policies to 'BBB' from 'A' and placed the ratings ...
Ratings On Two Ambac Assurance Corp. Insurance-Supported Bond Issues Lowered $100.00
NEW YORK (Standard&Poor's) July 9, 2009--Standard&Poor's Ratings Services today lowered its ratings on two bond issues supported by Ambac Assurance Corp. insurance policies (see list). The long-term rating on New York State Energy Research&Development ...

Price: $175.00

Free Sample

Questions about
this research?

Send page to a friend

Return to
Deal 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.