Ambac moving toward deal: CNBC
By Ron Haruni · Mar 4, 2008 · Author's Website
NEW YORK (Reuters) - Ambac Financial Group Inc (ABK), the second-largest bond insurer, is progressing toward a deal to raise capital but has not yet reached an agreement, CNBC reported on Tuesday. Ambac is looking to raise capital to help keep the top credit ratings at its main insurance unit. CNBC’s Charlie Gasparino said a group of banks working on the deal plans to work through the night.
Reporting by Dan Wilchins
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