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ambac assurance corporation

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Financial Dictionary

Ambac Assurance Corporation

A subsidiary of publicly traded Ambac Financial Group that provides financial guarantees for municipal borrowers and for asset-backed and structured issues. Ambac was founded in 1971 as a subsidiary of MGIC Investment Corporation and later owned by Baldwin-United and Citibank. Formerly called American Municipal Bond Assurance Corporation.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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