Corporate Profile for AMBAC, dated May 24, 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: May 24, 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
Contacts: David J. Weissman
Business number: 212/208-3244
E-Mail: dweissman@ambac.com
or
John M. Cathey
Business number: 212/208-3490
jcathey@ambac.com
Public Relations Contact: John M. Cathey Business number: 212/208-3490 World Wide Web: http://www.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. (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. , ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors ABK ABK Abkuerzung (German: Abbreviation) ABK Anybody Killa (musician) ABK Ahli Bank of Kuwait ABK American Bank of Kosovo ABK Aphakic Bullous Keratopathy (ophthalmology) , listed in the daily stock tables under "Ambac") is a holding company that through its affiliates provides financial guarantee insurance and financial services to both public and private clients. AMBAC Inc.'s principal operating subsidiaries are: (i) AMBAC Indemnity Corp. ("AMBAC Indemnity"), a leading insurer of municipal and structured finance obligations; (ii) AMBAC Capital Management Inc. ("ACMI"); a provider of investment contracts to states, municipalities and municipal authorities; and (iii) 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 "), which provides interest rate swaps to states, municipalities, municipal authorities and other entities in connection with their financings. 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. 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 Ratings Group and and Fitch Investors Service Fitch Investors Service A financial services company best known for the bond ratings it provides investors. , L.P. 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. AFS provides interest rate swaps to states, municipalities, municipal authorities and other entities in connection with their financings. The interest rate swaps issued by AFS are insured by triple-A rated AMBAC Indemnity and provide a financing alternative that can reduce an issuer's overall borrowing costs. To obtain a copy of AMBAC Inc.'s latest annual or quarterly report filed with the Securities and Exchange Commission or the most recent Annual Report to Stockholders, please call or write the Investor Relations Department at the above number or address. CONTACT: AMBAC Inc., New York John M. Cathey, 212/208-3490 |
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