Tags: ambac | bonds

Ambac May Go Bankrupt This Year

Monday, 01 Nov 2010 10:09 AM


Ambac Financial Group Inc, once one of the largest U.S. bond insurers, said on Monday it may file for bankruptcy protection this year, after missing an interest payment due on some debt.

In a regulatory filing, Ambac said it is in talks with senior debtholders about restructuring its debt through a "prepackaged" bankruptcy filing.

The New York-based company said if it cannot reach agreement on a prepackaged bankruptcy in the near term, it intends

© 2015 Thomson/Reuters. All rights reserved.

Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.

You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved