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Ambac reports big loss, big drop in book value thanks to Puerto Rico

Published 05/10/2017, 04:18 PM
© Reuters.  Ambac reports big loss, big drop in book value thanks to Puerto Rico
AMBC
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  • Q1 adjusted loss of $91.2M or $2.01 per share vs. a loss of $12.7M and $0.28 in Q4. The big loss is thanks to a boost to reserves related to Puerto Rico.
  • Adjusted book value per share of $27.09 down from $29.48 three months earlier.
  • Company repurchased $200M of Ambac insured securities during quarter and $114M par of surplus notes.
  • Conference call tomorrow at 8:30 ET
  • Source: Press Release
  • AMBC -0.3% after hours
  • Now read: Puerto Rico Defaults: Are Illinois And New Jersey Next?


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