Moody’s & S&P: Ambac’s Triple A Rating Remains Unchanged
The key triple-A ratings of Ambac Financial Group Inc.'s insurance subsidiaries by Moody's Investors and Standard & Poor's Rating Services were affirmed, but said the ratings are more likely to fall than to rise in the longer term.
Fimalac SA's Fitch Ratings, which has been more aggressive in its actions against bond insurers, left the units at double-A with a negative outlook and said it would be difficult for them to regain triple-A ratings.
Moody's acted after the second-largest bond insurer behind MBIA Inc. said yesterday it completed its $1.5 billion capital raising aimed at defending its ratings.
Published on March 13, 2008
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