Ambac Financial Group, Inc. Relocates Employees to Disaster Recovery Site.Business Editors RONKONKOMA, N.Y.--(BUSINESS WIRE)--Sept. 13, 2001 Ambac Financial Group Ambac Financial Group (NYSE: ABK) is an American Insurer of bonds, including municipal bonds. Ambac Financial Group, Inc. (NYSE: ABK) is a holding company whose subsidiaries provide financial guarantee products and other financial services to clients in both , Inc. (NYSE NYSE See: New York Stock Exchange :ABK) (Ambac), in response to the tragic events impacting downtown New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , has temporarily closed its headquarters at One State Street Plaza, New York, New York. Pursuant to Ambac's disaster recovery plan, all operations will be carried out from Ambac's offices in Ronkonkoma, New York Ronkonkoma is a census-designated place (CDP) in Suffolk County, New York, United States. The population was 20,029 at the 2000 census. Ronkonkoma is a community in the Town of Islip. . Ambac's offices at One State Street Plaza were not damaged. As soon as permitted, Ambac will return to its New York City offices. Until further notice, Ambac can be reached at 631-467-0200. The temporary relocation will not have any material impact on Ambac's business operations. All Ambac employees are safe and have been accounted for. Ambac expresses its sincere sympathy to all of the friends, colleagues and families impacted by this terrible tragedy. Ambac Financial Group, Inc., headquartered in New York City, is a holding company whose affiliates provide financial guarantees and financial services to clients in both the public and private sectors around the world. Ambac's principal operating subsidiary, Ambac Assurance Corporation Ambac Assurance Corporation A subsidiary of publicly traded Ambac Financial Group that provides financial guarantees for municipal borrowers and for asset-backed and structured issues. , a leading guarantor of municipal and structured finance obligations, has earned triple-A ratings, the highest ratings available from Moody's Investors Services, Inc., Standard & Poor's Ratings Services, Fitch, Inc. and Rating and Investment Information, Inc. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion