Insurance Day
US companies: latest news in brief
RATING agency Standard & Poor’s (S&P) has cut the credit rating of US bond insurers, Ambac Assurance, by three notches to
triple-B, or two levels above junk status, saying that the company was “effectively in run-off”. S&P downgraded the credit
rating of parent Ambac Financial to junk status, dropping it three notches to double-B.