The fourth forbearance agreement, that is. Just out from ACA:
NEW YORK–(BUSINESS WIRE)–April 24, 2008–ACA Capital Holdings, Inc. (OTC BB: ACAH) today announced that it has entered into a fourth forbearance agreement with its Structured Credit and other similarly situated counterparties. This agreement will remain effective through 11:59 p.m. (New York City local time) on May 30, 2008, subject to extension upon certain circumstances. Under the agreement, the counterparties will continue to waive all collateral posting requirements, termination rights and policy claims relating to the rating of ACA Financial Guaranty Corporation, ACA Capital’s financial guaranty insurance subsidiary, under their respective transaction documents including any credit support annexes and similar agreements. The Company is pleased to have reached an additional agreement with its counterparties and continues to work closely with them to develop a permanent solution to stabilize its capital position.
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