Fitch Downgrades 2 ABS Transactions Following Ambac Rating Downgrade; Watch Negative.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 -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. downgrades two asset-backed securities (ABS) transactions following Fitch's downgrade of its ratings on 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. and its affiliated entities (Ambac), and they remain on Watch Negative. The ratings of the following ABS transactions are supported by a financial guaranty policy provided by Ambac Assurance Corp., a subsidiary of Ambac Financial Group, Inc., and therefore are downgraded to 'AA' and remain on Rating Watch Negative. Missouri Higher Education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. Loan Authority - Student Loan Revenue Bonds series 1988A --$50,000,000 series A-conv-6/11/03 'AA'. Student Loan Funding Corp - 1993 Indenture of Trust --$44,000,000 series 1995 B-2 'AA'; --$44,000,000 series 1995 B-3 'AA'; --$44,000,000 series 1995 B-4 'AA'; --$44,000,000 series 1995 B-5 'AA'. For more information on Ambac, please see the Fitch press release 'Fitch Downgrades Ambac; Ratings Remain on Watch Negative', dated Jan. 18, 2008, available on the Fitch Ratings web site at www.fitchratings.com. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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