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	<title>Stock Blog Hub &#187; ABK</title>
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		<title>(ABK) Ambac Financial Group Plunges on Wider Loss</title>
		<link>http://www.stockbloghub.com/2010/05/24/abk-ambac-financial-group-plunges-on-wider-loss/37860</link>
		<comments>http://www.stockbloghub.com/2010/05/24/abk-ambac-financial-group-plunges-on-wider-loss/37860#comments</comments>
		<pubDate>Mon, 24 May 2010 21:46:43 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=37860</guid>
		<description><![CDATA[Share price of Ambac Financial Group Inc. (ABK) plunged approximately 23.3% on Tuesday to close at $1.12 after the company reported its first quarter 2010 adjusted net loss of $0.68 per share, compared with adjusted net loss of $3.22 per share in the prior-year quarter. The company reported adjusted net income of $195.0 million in the quarter before it took a one-time charge of $495.1 million related to the adoption of a new accounting standard. Deconsolidation of a number of variable interest entities due to adoption of the new accounting standard resulted in a one-time charge of $495.1 million in the reported quarter. Including the one-time charge, Ambac recorded a net loss of $690.1 million or $2.39 per share in the reported quarter compared with a net loss of $392.2 ]]></description>
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		<title>(ABK) Ambac Financial Group Reverses Loss</title>
		<link>http://www.stockbloghub.com/2010/04/13/abk-ambac-financial-group-reverses-loss/33598</link>
		<comments>http://www.stockbloghub.com/2010/04/13/abk-ambac-financial-group-reverses-loss/33598#comments</comments>
		<pubDate>Tue, 13 Apr 2010 21:49:25 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=33598</guid>
		<description><![CDATA[After the closing bell on Thursday, Ambac Financial Group (ABK) reported fourth quarter earnings of $1.93 per share. Last year, the company reported a loss of $8.14 per share. Earnings were aided by tax benefit of $472 million and $133.2 million gain on credit derivatives. Net premiums earned from the Financial Guarantee segment declined 19% year-over-year to $184.4 million. Ambac has not written any new business in more than a year and continues to exist in the runoff mode. Total net loss and loss expenses for the quarter was $385.4 million, substantially down from $916.4 million in the prior year period. Total net claims paid were $489.5 million, up from $287.7 million in the prior year quarter, related primarily to residential mortgage backed securities (RMBS) transactions and claims paid on ]]></description>
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		<title>(ABK) Ambac Financial Group Sees Moody&#8217;s Rating Cut</title>
		<link>http://www.stockbloghub.com/2010/03/30/abk-ambac-financial-group-sees-moodys-rating-cut/32284</link>
		<comments>http://www.stockbloghub.com/2010/03/30/abk-ambac-financial-group-sees-moodys-rating-cut/32284#comments</comments>
		<pubDate>Tue, 30 Mar 2010 14:25:57 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=32284</guid>
		<description><![CDATA[Last week, rating agency Moody’s cut Ambac Financial Group’s (ABK) debt rating to “C&#8221; from “Ca.&#8221; This move was fueled by Ambac’s announcement that it might seek bankruptcy protection if it is unsuccessful in restructuring its debt. The company’s main unit Ambac Assurance Corporation (AAC) has been hit by regulators, who have taken up the rehabilitation of a portion of its liabilities. The rating “C&#8221; reflects high probability of default and very low debt recovery. The Office of the Commissioner of Insurance (OCI) has ordered AAC to create a segregated fund which would contain $35 billion of company’s liabilities on policies related to residential mortgage-backed securities and $29 billion on other credit derivatives and structured finance products. No claims will be made with respect to any policies under the segregated ]]></description>
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		<title>(ABK) Ambac Financial Group Unit Faces Standard &amp; Poor&#8217;s Downgrades</title>
		<link>http://www.stockbloghub.com/2010/03/29/abk-ambac-financial-group-unit-faces-standard-poors-downgrades/32014</link>
		<comments>http://www.stockbloghub.com/2010/03/29/abk-ambac-financial-group-unit-faces-standard-poors-downgrades/32014#comments</comments>
		<pubDate>Mon, 29 Mar 2010 17:18:01 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=32014</guid>
		<description><![CDATA[Yesterday, the rating agency Standard &#38; Poor&#8217;s slashed the rating of Ambac Assurance (“AAC&#8221;), a unit of Ambac Financial Group (ABK), to “R&#8221; from “CC.&#8221; This move was fueled by the announcement of the Officer of Commissioner of Insurance (OCI) regarding the rehabilitation of AAC liabilities. The OCI yesterday ordered AAC to create a segregated fund, which would contain $35 billion of the company’s liabilities on policies related to residential mortgage-backed securities and $29 billion on other credit derivatives and structured finance products. No claims will be made with respect to any policies under the segregated account until the rehabilitation plan is approved by the court, which might take six months. A moratorium on claims payment has been put to conserve Ambac’s reserves. The regulatory intervention is meant to protect ]]></description>
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		</item>
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		<title>(ABK) Ambac Financial Group Sues Credit Suisse</title>
		<link>http://www.stockbloghub.com/2010/01/14/abk-ambac-financial-group-sues-credit-suisse/25012</link>
		<comments>http://www.stockbloghub.com/2010/01/14/abk-ambac-financial-group-sues-credit-suisse/25012#comments</comments>
		<pubDate>Thu, 14 Jan 2010 22:27:30 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>
		<category><![CDATA[Credit Suisse Group]]></category>
		<category><![CDATA[CS]]></category>
		<category><![CDATA[MBI]]></category>
		<category><![CDATA[MBIA Inc.]]></category>
		<category><![CDATA[Rambus Inc.]]></category>
		<category><![CDATA[RMBS]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=25012</guid>
		<description><![CDATA[Ambac Assurance Corp, a unit of Ambac Financial Group Inc. (ABK) has sued Credit Suisse Group (CS), alleging the company misrepresented the risks of mortgage-backed securities in a deal Ambac insured in 2007. Ambac claimed that many of the loans involved were fraudulent, based on misstatements of income or occupancy. Ambac increased its estimate of remediation recoveries on residential mortgage backed securities (RMBS) transactions due to breaches of representations and warranties by approximately $738 million during the third quarter. Ambac is actively working on these transactions to resolve these breaches through litigation or otherwise, and continues to believe that the assumed recovery time of three years to be appropriate. At the height of housing boom, dishonesty was widely prevalent in the industry, with very clear protective language was standard in ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(ABK) Ambac Financial Group Falls Below NYSE Standards</title>
		<link>http://www.stockbloghub.com/2009/12/10/abk-ambac-financial-group-falls-below-nyse-standards/22498</link>
		<comments>http://www.stockbloghub.com/2009/12/10/abk-ambac-financial-group-falls-below-nyse-standards/22498#comments</comments>
		<pubDate>Thu, 10 Dec 2009 21:51:36 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=22498</guid>
		<description><![CDATA[Ambac Financial Group (ABK) yesterday announced that it has received notice from New York Stock Exchange (NYSE) that the company has breached the exchange’s listing standard with regard to its share price. The NYSE requires companies to maintain an average closing price of at least $1 over 30 days. However, Ambac fell short of this requirement as its 30 trading-day share price averaged 94 cents on the day prior to the receipt of the notice on Dec 9, 2009. As per NYSE’s rules, Ambac has six months to haul up its 30 trading-day average share price back above $1 to stay listed. However, the company’s common stock will continue to trade on the NYSE as long as Ambac remains in compliance with other listing requirements. The company, which used to ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(ABK) Ambac Financial Group Faces Liquidity Crunch</title>
		<link>http://www.stockbloghub.com/2009/11/14/abk-ambac-financial-group-faces-liquidity-crunch/20514</link>
		<comments>http://www.stockbloghub.com/2009/11/14/abk-ambac-financial-group-faces-liquidity-crunch/20514#comments</comments>
		<pubDate>Sat, 14 Nov 2009 23:49:18 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=20514</guid>
		<description><![CDATA[In its quarterly filing on Monday, Ambac Financial Group (ABK) revealed that it is facing liquidity constraints. At the end of the third quarter of 2009, the company’s liquidity consisted of $164.7 million of cash, short term investments and bonds. Management is unsure whether this will be sufficient for its liquidity needs through the second quarter of 2011. Ambac’s access to other sources of liquidity also remains uncertain. The company has a $143.0 million debt payment obligation maturing in Aug 2011. Furthermore, an unfavorable outcome of the outstanding class action lawsuits against Ambac could cause additional liquidity strain. Given the company’s current condition, it is possible that its liquidity may run out prior to the second quarter of 2011. Ambac, the first monoline bond insurer, had never been downgraded or ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(ABK) Ambac Financial Group’s Loss is Wider than Expected</title>
		<link>http://www.stockbloghub.com/2009/11/08/abk-ambac-financial-group%e2%80%99s-loss-is-wider-than-expected/19885</link>
		<comments>http://www.stockbloghub.com/2009/11/08/abk-ambac-financial-group%e2%80%99s-loss-is-wider-than-expected/19885#comments</comments>
		<pubDate>Mon, 09 Nov 2009 02:28:53 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=19885</guid>
		<description><![CDATA[Ambac Financial Group’s (ABK) third-quarter loss of $2.35 per share was wider than the Zacks Consensus Estimate of a loss of $1.22 per share. Last year, the company had reported a loss of $7.81 per share. Losses were driven by higher loss expenses in its Residential Mortgage Backed Securities [RMBS] insured portfolio. Revenues came in at $2.7 billion, compared with negative revenues of $2.3 billion in the prior-year quarter. The improvement in revenues was brought about by $2.9 billion of unrealized gains in credit derivatives. Net premiums earned in the quarter were $238.4 million, down 16% year over year. Normal net premiums amounted to $148.1 million and $155 million in the third quarters of 2009 and 2008, respectively. Net investment income was $135 million, representing an increase of 6.3% from ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(MBI) MBIA Incorporated Slashed Sub-Investment Grade</title>
		<link>http://www.stockbloghub.com/2009/10/03/mbi-mbia-incorporated-slashed-sub-investment-grade/16342</link>
		<comments>http://www.stockbloghub.com/2009/10/03/mbi-mbia-incorporated-slashed-sub-investment-grade/16342#comments</comments>
		<pubDate>Sat, 03 Oct 2009 22:57:13 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Surety & Title Insurance]]></category>
		<category><![CDATA[ABK]]></category>
		<category><![CDATA[Ambac Financial Group]]></category>
		<category><![CDATA[MBI]]></category>
		<category><![CDATA[MBIA Inc.]]></category>
		<category><![CDATA[MCO]]></category>
		<category><![CDATA[Moody's Corporation]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com.php5-2.dfw1-2.websitetestlink.com/?p=16342</guid>
		<description><![CDATA[Note: We are re-issuing this post after correcting a mistake in the original post that ran yesterday. As a result of another sign of dwindling confidence about MBIA Incorporated’s (MBI) business prospects, Standard &#38; Poor&#8217;s (S&#38;P) has downgraded its ratings on the parent company as well as its structured finance insurance arm, MBIA Insurance Corporation.Rating of the parent company has been slashed to “BB-“ from “BB&#8221; and its subsidiary MBIA Insurance Corporation’s rating has been slashed to “BB+&#8221; from “BBB&#8221;. The ratings for both the parent and the subsidiary are now below investment grade. The rating agency holds a negative outlook on the ratings, which means that there could be additional downgrades if the company incurs further losses. The rating action follows concerns about the company&#8217;s exposure to residential mortgage-backed securities and ]]></description>
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