Ambac originally projected that losses on the underlying collateral of the Bear Stearns transaction would be between 10% and 12%, but now expects losses at 81.8% of underlying collateral, a transaction that has seen an unexpectedly " rapid escalation of losses," and represents an outsized percentage of the insurer's expected credit impairment, Wallis said.
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Article : http://money.cnn.com/news/newsfeeds/articles/djf500/200804231232DOWJONESDJONLINE000893_FORTUNE5.htm |
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