Ambac Spreads Spike On Equity Plan

07 Mar 2008

The price of protection on monoline Ambac Financial Group jumped Wednesday after the firm announced it will issue USD1 billion on stock.

The price of protection on monoline Ambac Financial Group jumped Wednesday after the firm announced it will issue USD1 billion on stock. The issue will more than double Ambac's outstanding shares. Investors and traders were skeptical it would save the company and continued to buy protection on the ...

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