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Ambac Financial Group marks $97.41 million net loss for December
By Caroline Salls
Pittsburgh, Feb. 1 - Ambac Financial Group, Inc. posted a $97.41 million net loss for December on zero revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
The company had $40.99 million in cash and cash equivalents at Dec. 31.
Ambac is a New York-based company that provides financial guarantee insurance for public and structured finance obligations. The company filed for bankruptcy on Nov. 8, and its Chapter 11 case number is 10-15973.
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