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09.08.2010 23:01
BRIEF-Ambac Financial quarterly results
Aug 9 (Reuters) - Ambac Financial Group Inc:
* Qtrly net loss $0.20 per share
* Qtrly net premiums earned $ 167 million
* Qtrly total revenues $381,170,000
* Says is also pursuing a restructuring of its outstanding debt through a
prepackaged bankruptcy proceeding
* May decide not to pay interest on debt before filing prepackaged bankruptcy
or seeking other relief under bankruptcy code
* If it's unable to effectuate strategic alternatives in near term, it would
likely need to seek relief under chapter 11
* Management has concluded that there is substantial doubt about the ability of
the company to continue as a going concern
* Says believes that Ambac will have sufficient liquidity to satisfy its needs
into the second quarter of 2011
* Says is currently pursuing raising additional capital
(
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Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reu09.08.2010 23:01
BRIEF-Ambac Financial quarterly results
Aug 9 (Reuters) - Ambac Financial Group Inc:
* Qtrly net loss $0.20 per share
* Qtrly net premiums earned $ 167 million
* Qtrly total revenues $381,170,000
* Says is also pursuing a restructuring of its outstanding debt through a
prepackaged bankruptcy proceeding
* May decide not to pay interest on debt before filing prepackaged bankruptcy
or seeking other relief under bankruptcy code
* If it's unable to effectuate strategic alternatives in near term, it would
likely need to seek relief under chapter 11
* Management has concluded that there is substantial doubt about the ability of
the company to continue as a going concern
* Says believes that Ambac will have sufficient liquidity to satisfy its needs
into the second quarter of 2011
* Says is currently pursuing raising additional capital
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(For more news, please click here)
COPYRIGHT
Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reu