Municipal Bond Forum
Will Ambac restructure?
Q
What do you think of the chances of restructuring of Ambac to cover only municipal bonds? Or the possibility of Assured Guaranty reinsuring some of the Ambac muni bonds?
A
James A. Klotz responds:
As we mentioned in our commentary, the regulators in Wisconsin are
attempting to protect municipal bond guarantees by some form of restructuring. There are certain legal hurdles that must be overcome before this can occur.
We have heard no talk of Assured Guaranty reinsuring any Ambac credits, but that is always a possibility.
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