As seen on CNBC, it seems as if the ratings companies are asking that Ambac (NYSE: ABK) raise more cash in order to ensure that it keeps its AAA rating. ABK is trading over 8 percent lower in the premarket and piling on market fears initiated by AIG’s terrible quarter as reported last night.
The International Swaps and Derivatives Assoc. (ISDA) said Thursday that it intends to begin gathering and posting a list of all of the obligations that monoline insurers have. The list would be posted online and offer additional transparency for those seeking to do business with, invest in, and/or calculate the risk of specific monoline insurance companies and/or the monoline insurance industry as a whole.
Check out the Prince’s monoline round-up for today. It’s been a pretty quiet day for the monolines as the snow attacks the northeast and the weekend approaches…
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