Ambac Assurance Corporation Reports Preliminary First Quarter 2022 Impact of Recent Material Developments
Puerto Rico Update
Estimated Gain of
AAC has successfully implemented the restructuring of a significant portion of its remaining
R&W Update
Estimated reduction to AAC’s R&W subrogation recoveries of
Based on AAC’s initial evaluation of the court’s decision in the case entitled
Estimated subrogation recoveries do not represent AAC’s view of the ultimate recovery from its RMBS litigations. In particular, the reported subrogation recoverable does not include: a) pre-judgement interest associated with such claims, which given the passage of time, represents a material incremental value above the subrogation recoverable and b) potential material recoveries attributed solely to fraudulent inducement claims in AAC’s litigations.
AAC’s ultimate recoveries in its RMBS litigations may be materially higher or lower than its estimated subrogation recoveries based on a number of factors, including those described in Ambac’s Form 10-K for the fiscal year ended
In addition to the
About
The Amended and Restated Certificate of Incorporation of
More on Estimated Subrogation Recoveries
The subrogation recoveries range disclosed in this press release is an estimate, and is based solely on information available to
Our estimates contained herein are forward-looking statements and may differ from actual results. See "Forward-Looking Statements" herein.
Forward-Looking Statements
In this press release, statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “estimate,” “project,” “plan,” “believe,” “anticipate,” “intend,” “planned,” “potential” and similar expressions, or future or conditional verbs such as “will,” “should,” “would,” “could,” and “may,” or the negative of those expressions or verbs, identify forward-looking statements. We caution readers that these statements are not guarantees of future performance. Forward-looking statements are not historical facts but instead represent only our beliefs regarding future events, which may by their nature be inherently uncertain and some of which may be outside our control. These statements may relate to plans and objectives with respect to the future, among other things which may change. We are alerting you to the possibility that our actual results may differ, possibly materially, from the expected objectives or anticipated results that may be suggested, expressed or implied by these forward-looking statements. Important factors that could cause our results to differ, possibly materially, from those indicated in the forward-looking statements include, among others, those discussed under “Risk Factors” in our most recent
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Managing Director, Investor Relations
(212) 208-3177
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(646) 818-9059
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