Shares of US bond insurer Ambac Financial sank 33% on Tuesday after the company warned it may be forced to seek bankruptcy protection if it cannot fix its liquidity problems, reports Reuters. Ambac said it may pursue strategies including “a negotiated restructuring of its debt through a prepackaged bankruptcy proceeding” as it tries to deal with its issues. See also FT Alphaville.

This entry was posted by Gwen Robinson on Wednesday, November 11th, 2009 at 4:53 and is filed under Capital markets. Tagged with Ambac. Edit this entry.