Ambac Commutes USD16.4 Bln In CDOs

08 Jun 2010

Ambac Financial Group has commuted its remaining USD16.4 of exposure to collateralized debt obligations of asset-backed securities.

Ambac Financial Group has commuted its remaining USD16.4 of exposure to collateralized debt obligations of asset-backed securities. Under the terms of the agreement with its counterparties, Ambac will pay a total of USD2.6 billion in cash and USD2 billion of newly issued surplus notes of Ambac Assurance.

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial