Ambac closes financial deleveraging transaction through exchange of outstanding corolla trust obligations for surplus notes

New york--(business wire)--ambac financial group, inc. (nyse:ambc) (“ambac”), a financial services holding company, today announced that its subsidiary, ambac assurance corporation (“aac”), successfully completed an exchange whereby it acquired 100% of the outstanding obligations of corolla trust in return for aac issued 5.1% senior surplus notes (“ssns”). corolla trust was established in 2014 and is the sole owner of an aac junior surplus note (“jsn”) with a face amount of $350 million and acc
AMBC Ratings Summary
AMBC Quant Ranking