| ||||||||||||||||||||||
| ||||||||||||||||||||||
Entries tagged "FGIC"FGIC deal sends MBIA shares upOnce again, the market breathed a sigh of relief Thursday as two major bond insurers improved their shaky financial position. Leading bond insurer MBIA Inc., which recently lost its AAA credit rating, agreed to reinsure $184 billion in municipal bonds for Financial Guaranty Insurance Co., the companies said in separate statements Wednesday. ... Bond insurers rally on Ambac CDO settlementAlways in need of a lift as they continue to take structured finance related hits, the bond insurers rallied Friday on news that No. 2 monoline Ambac Financial Group Inc. wiped one of its largest toxic structured finance exposure off of its books as it agreed to settle an unnamed counterparty's claims against a $1.4 billion collateralized-debt-obligation exposure in exchange for an $850 million cash payment. Ambac shares soared 50.40% on the news to close at $3.79 per share. Ambac in early June announced plans to launch a separate stable municipal bond-only entity, which has yet to materialize. ... Triple-A monolines: A dying breedA top triple-A credit rating is a rarity in the troubled world of the bond insurers these days. And the few that still hold onto one are threatened with having it pulled out from under them. The newest on Moody's Investors Service ratings watch list: Assured Guaranty Corp. and Financial Security Assurance Inc., or FSA. ... Ripplewood may make waves in bond insurer poolPrivate equity firm Ripplewood Holdings LLC may be looking to dive into the troubled bond insurer sector. According to a Wednesday New York Post report, the firm is considering the launch of a bond insurance business. Discussions to start a monoline are in very early stages and may not materialize, the report added. When The Deal contact Ripplewood, a spokesman declined to comment. ... Previewing The Deal: Week of May 12, 2008This week's edition of The Deal is really designed for the deal junkies among us. First, our cover by Vyvyan Tenorio focuses in on SPACs, so-called blank-check or special purpose acquisition companies. SPACs have been a hot number over the last few years, particularly in the IPO market, but there remain some issues and doubters. ... FGIC still searching for a lifelineThe weakest of the big bond insurers says it is making progress fashioning a bailout. Deal Digest: May 6, 2008Stay tuned to TheDeal.com for updates to these stories and more. Target Corp.-J.P. Morgan Chase & Co.Bowing to pressure from Pershing Square Capital Management LP, Target agreed Monday to sell J.P. Morgan Chase an interest in its credit card business for $3.6 billion. ... Ailing FGIC could be next monoline to bring in new bucksIt looks like investors are saving the worst of the major U.S. monolines for last, as struggling bond insurer FGIC Corp. said on Monday that it received proposals from "a range of strategic partners, reinsurers and private equity providers" in response to requests for proposals to enhance its capital position. The news comes three weeks after FGIC announced it had hired Goldman, Sachs & Co. to advise it on strategic alternatives, which could include the sale of all or part of the company or a "bulk reinsurance transaction on all or parts of FGIC's in-force business to a third party."... Deal of the Quarter: Ensuring the insurerLike the other bond insurers, MBIA found itself threatened by the rising subprime tide. Riding to the rescue: buyout shop Warburg Pincus. Here's how the rescue unfolded. The bears fight Wednesday's monoline bulls following Moody's commentsA handful of bond insurers, which were hammered with double-digit declines on Wednesday following news that Ambac Financial Group Inc. reported a $1.66 billion quarterly loss, saw some relief Thursday on Moody's Investors Service comments that while Ambac losses exceeded analysts' expectations, they were below worst-case-scenario losses the agency uses to evaluate Ambac's capital adequacy. ... FGIC's only option: Sell the good book, keep the bad bookBond insurer FGIC Corp. could be looking at a good-book-goes, bad-book-stays scenario as part of its review of strategic alternatives announced Tuesday. FGIC, parent of monoline Financial Guaranty Insurance Corp., has hired Goldman, Sachs & Co. to kick-off a strategic review, which could include the sale of all or part of the company and a "bulk reinsurance transaction on all or parts of FGIC's in-force business to a third party," the company stated. ... Deal Digest: April 15, 2008Stay tuned to TheDeal.com for updates to these stories and more.Delta Air Lines Inc.-Northwest Airlines Corp.The top deal story Tuesday is the long-expected merger announcement from Delta and Northwest. The $3.63 billion stock-swap deal will create the world's largest carrier. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "FGIC." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
 Deal Video
    Community
 Elsewhere on The Deal.comDealwatch
The Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| ||||||||||||||||||||||
| ||||||||||||||||||||||
