Ambac downgraded to ‘CC’, regulatory intervention possible

July 29, 2009 12:00 am

Ambac, one of the biggest monoline bond insurers, has been downgraded from BBB to CC by Standard & Poor’s.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request demo or Login

✔ 4,000 annual insights
✔ 700+ notes and long-form analyses
✔ 4 capital markets databases
✔ Daily newsletters across markets and asset classes
✔ 2 weekly podcasts

Topics

News content

People and Markets

DB hires for LatAm DCM amid long term build-out hopes

Deutsche Bank has hired from ING to replace a recent departure in its Latin American debt capital markets team, and the German bank’s head of LatAm DCM told GlobalCapital that he hoped to build around the new hire.

Oliver West, August 09, 2021
Bank Strategy

Moelis sees room to grow for ‘nimble’ capital markets team

Moelis & Co supercharged its capital markets team last year just in time to take advantage of the booming market for special purpose acquisition companies (Spacs). But as the craze subsides, the team continues to expand, with the firm looking to generate repeat business from clients that appreciate its product-agnostic approach.

Richard Metcalf, August 06, 2021
Corporate Bonds

ICMA wants to unite bonds, derivatives in common code

A new level of harmonisation and simplicity in financial markets communication is on the horizon, according to supporters of the Common Domain Model — a coding framework that will allow bonds, repos and derivatives to be described in a single format, potentially making processing more efficient and less manual.

Jon Hay, August 05, 2021
Bank Results

NatWest Markets heads into final stretch of ‘reshaping’

NatWest Group said on Friday that the “reshaping” of its investment banking arm, NatWest Markets, would be largely complete by the end of the year, after it moved a further 500 staff out of NWM in the second quarter.

Richard Metcalf, August 04, 2021
Bank Results

Banks make ‘rebound’ word of the quarter as capital markets normalise

It has been an earnings season of rebounds. UBS, the first of the European investment banks to report its results for the second quarter of the year, used the word “rebound” three times in its earnings report, which it published on July 23. Since then, BNP Paribas has pointed to an “established rebound” in its results while HSBC has reported a “rebound” in profits in the US and Europe.

Richard Metcalf, August 03, 2021
Equity

Berenberg adds ECM syndicate banker, seeks more originators

Berenberg has hired a fourth senior equity syndicate banker to cover France and southern Europe, amid big plans to expand its investment banking business, with new offices and teams in Brussels and Stockholm.

Aidan Gregory, August 03, 2021