S&P downgrades Ambac again, but shares rebound in late action

S&P downgrades Ambac again, but shares rebound in late action

Published by DavidWaring
11-19-2008

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InformedPoints: 0

S&P downgrades Ambac again, but shares rebound in late action

Standard & Poorâ€™s said Wednesday that it downgraded Ambac Financial and the companyâ€™s main bond insurance unit because the rating agency expects more losses from guarantees of mortgage-backed securities and collateralized debt obligations.

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