Ambac Assurance Corporation

Ambac Assurance Corporation definition - business

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.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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