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Monolines

Ambac keeps Moody’s and S&P top grade

By Stacy-Marie Ishmael in New York

Published: March 13 2008 00:53 | Last updated: March 13 2008 00:53

Moody’s and Standard & Poor’s on Wednesday affirmed the top-notch credit ratings of troubled bond insurer Ambac, ending weeks of uncertainty around the outcome of their long-awaited reviews.

Both credit rating agencies had previously threatened to strip Ambac of its crucial triple-A rating because of concerns about the strength of its capital base.

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