Ambac Sells Advisory Services Subsidiary RangeMark
21 Juillet 2010 - 12:05AM
Business Wire
Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced
today that it has completed the sale of its advisory services
subsidiary, RangeMark Financial Services, Inc. (“RangeMark”) to the
company’s management. The sale was completed on Friday, July 16,
2010. Ambac will continue to contract with RangeMark for certain
valuation services for a period of time.
About Ambac
Ambac Financial Group, Inc., headquartered in New York City, is
a holding company whose affiliates provided financial guarantees
and financial services to clients in both the public and private
sectors around the world. Ambac's principal operating subsidiary,
Ambac Assurance Corporation, a guarantor of public finance and
structured finance obligations, has a Caa2 rating under review for
possible upgrade from Moody's Investors Service, Inc. and an R
rating (regulatory intervention) financial strength rating from
Standard & Poor's Ratings Services. Ambac Financial Group, Inc.
common stock is listed on the New York Stock Exchange (ticker
symbol ABK).
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