Corporate Profile for AMBAC, dated Feb. 23, 1996.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine, CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company, Prodigy, Comtex, and many others. -0- Published date: Feb. 23, 1996 Company name: AMBAC Inc.
Address: 1 State Street Plaza
New York, N.Y. 10004
Telephone No.: 212/668-0340 Chief Executive Officer: Phillip B. Lassiter Chief Financial Officer: Frank J. Bivona Investor Relations Contact: John M. Cathey Business number: 212/208-3490 Home number: 516/671-8683 Public Relations Contact: John M. Cathey Business number: 212/208-3490 Home number: 516/671-8683 E-mail address: info@ambac.com Trading symbol: ABK Industry: Monoline Insurance Company description: AMBAC AMBAC American Municipal Bond Assurance Corporation AMBAC Active Mass Balance Auto-Control (Gundam anime) Inc. (NYSE NYSE See: New York Stock Exchange : ABK ABK Abkuerzung (German: Abbreviation) ABK Anybody Killa (musician) ABK Ahli Bank of Kuwait ABK American Bank of Kosovo ABK Aphakic Bullous Keratopathy (ophthalmology) ) is a holding company for a leading financial guarantee insurance company, AMBAC Indemnity Corp.; a provider of municipal investment contracts, AMBAC Capital Management Inc. ("ACMI"); a provider of interest rate swaps to municipalities, AMBAC Financial Services, Limited Partnership ("AFS A distributed file system for large, widely dispersed Unix and Windows networks from Transarc Corporation, now part of IBM. It is noted for its ease of administration and expandability and stems from Carnegie-Mellon's Andrew File System. AFS - Andrew File System ") and a health care information company, HCIA HCIA Hungarian Chemical Industry Association HCIA Hazardous Chemicals Information Act HCIA Hague Convention on Intercountry Adoption Inc. AMBAC Indemnity is primarily engaged in insuring municipal and structured finance obligations and is the successor of the oldest municipal bond insurance Municipal bond insurance An insurance policy which guarantees payment on municipal bonds in the event of default . municipal bond insurance A guarantee from a third party that principal and interest will be paid to a bondholder. company, which wrote the first municipal bond insurance policy in 1971. Financial guarantee insurance written by AMBAC Indemnity in both the primary and secondary markets guarantees payment when due of the principal of and interest on the bond insured. AMBAC Indemnity includes the public finance division, which focuses on traditional municipal public finance markets, and the specialized finance division, which focuses on the health care, investor-owned utilities, housing, student loan, asset-backed, mortgage-backed, and international securities markets. AMBAC Indemnity has been assigned triple-A claims-paying ability ratings, the highest ratings 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. ACMI provides triple-A investment contracts primarily to states, municipalities and municipal authorities. The investment contracts are rated triple-A by virtue of AMBAC Indemnity's insurance policies which guarantee ACMI's performance. Investment contracts are used by municipal bond issuers to invest bond proceeds until the proceeds can be used for their intended purpose, such as financing construction. The municipal investment contract provides for the guaranteed return of principal invested, and for the payment of interest thereon at a guaranteed rate. AFS provides interest rate swaps primarily to states, municipalities, and municipal authorities in connection with their bond financings. The interest rate swaps issued by AFS are insured by triple-A AMBAC Indemnity and provide an alternative that can substantially reduce overall borrowing costs. HCIA provides clinical and financial information systems and products to providers, payors and suppliers in the health care industry. HCIA's systems and products assist customers in analyzing the costs and quality of care delivered by providers of health care, and evaluating the efficacy and economics of health care delivery. CONTACT: AMBAC Inc., 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, 212/208-3490 |
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