S&P Says Big Impact From Ambac, MBIA Cuts

By Editorial Staff

June 16, 2008

Downgrades of MBIA and Ambac on June 5 have 'broad ramifications' for various corners of the global finance markets, according to a report issued last week by Standard & Poor's, which said 1,600 classes of structured finance transactions worth $350 billion will be affected by the downgrades.

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