AMBAC confirms list of the 20 AMBAC-insured Orange County investment pool participants.NEW YORK--(BUSINESS WIRE)--Dec. 14, 1994--AMBAC Indemnity Recompense for loss, damage, or injuries; restitution or reimbursement. An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual. Corp. today confirmed its list of the 20 participants in the Orange County Investment Pool that have issued obligations insured by AMBAC AMBAC American Municipal Bond Assurance Corporation AMBAC Active Mass Balance Auto-Control (Gundam anime) Indemnity. In most cases, the funds invested in the Orange County Investment Pool by these 20 participants should have little or no effect on their ability in the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. to make their scheduled debt service payments. However, if any of these issuers were unable to meet their scheduled debt service payments, AMBAC-insured bondholders would receive timely payments of principal and interest. In such cases, AMBAC expects any default to be temporary and ultimately to receive full recovery of any payments made. As AMBAC previously announced on Dec. 7th, the company has direct Orange County average annual debt service exposure of $17 million. The average annual debt service exposure for the 20 participants in the Orange County Investment Pool would total approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $55 million in the unlikely event that all 20 participants failed to make scheduled payments on their obligations. AMBAC Indemnity Corp. is the principal operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of AMBAC Inc., a New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. traded company (ABK ABK Abkuerzung (German: Abbreviation) ABK Anybody Killa (musician) ABK Ahli Bank of Kuwait ABK American Bank of Kosovo ABK Aphakic Bullous Keratopathy (ophthalmology) ). AMBAC Indemnity carries a triple-A claims-paying ability rating from each of Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. Inc., Standard & Poor's Corp. and Fitch Investors Service Fitch Investors Service A financial services company best known for the bond ratings it provides investors. Inc. -0-
AMBAC Indemnity Corp. as of Dec. 14, 1994
Avg. Annual Next Next Payment
AMBAC - Insured Issuer/ Debt Service Payment Amounts
OCIP Participant (000s)(a) Month (000s)(a)
Direct County Exposure:
Orange County $2,406 Jun-95 537
5,895 Feb-95 2,354
6,651 Jun-95 4,053
2,097 Jun-95 1,240
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17,049
Exposure To Other
Investment Participants:
1 Anaheim, City of 9,934 Feb-95 3,612
1,554 May-95 616
2 Anaheim Electric Rev 2,090 Apr-95 307
3 Anaheim Redev Agcy 5,988 Feb-95 1,453
4 Fountain Valley Cmty Dev 749 Jan-95 256
5 Huntington Beach, City of 2,342 Feb-95 493
Feb-95 369
6 La Habra Wtrwks 397 Jun-95 52
7 Mission Viejo, City of 416 Feb-95 131
8 Moulton Niguel Wtr Dist 2,630 Mar-95 934
9 City of Orange RDA 2,820 Apr-95 1,137
343 Feb-95 131
10 Orange County Wtr Dist 2,400 Feb-95 450
11 Orange Cnty Local Trans Auth 5,566 Feb-95 1,396
12 Orange Cnty Sanitation Dist. 11,631 Jan-95 103
Feb-95 3,253
Mar-95 103
Apr-95 103
May-95 103
Jun-95 103
13 Santa Ana, City of 1,643 Jun-95 687
14 Santa Barbara, City of 518 Feb-95 181
15 Santa Barbara, Sewer Revenue 445 Jan-95 62
16 Santa Barbara, Water Revenue 2,146 Apr-95 839
17 Santa Margarita Wtr Dist GO 391 Jun-95 247
18 Shandon Jt. USD 98 Feb-95 32
19 South Coast Wtr Dist 380 Jan-95 145
20 Stanton Redevelopment Agency 359 Jun-95 114
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54,840
Grand Total $71,889
(a) Net of reinsured amounts
CONTACT: AMBAC Indemnity Corp., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of John M. Cathey Cathey is a surname, of Scottish origins. It may derive from Clan Macfie. The spelling in English before members migrated to America was probably "Cathie" or "Cathy". , 212/208-3490 |
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