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Ambac Sells Advisory Services Subsidiary RangeMark

^{Published on 2010-07-20 15:10:36 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced today that it has completed the sale of its advisory services subsidiary, RangeMark Financial Services, Inc. (aRangeMarka) to the companya™s management. The sale was completed on Friday, July 16, 2010. Ambac will continue to contract with RangeMark for certain valuation services for a period of time.

About Ambac

Ambac Financial Group, Inc., headquartered in New York City, is a holding company whose affiliates provided financial guarantees and financial services to clients in both the public and private sectors around the world. Ambac's principal operating subsidiary, Ambac Assurance Corporation, a guarantor of public finance and structured finance obligations, has a Caa2 rating under review for possible upgrade from Moody's Investors Service, Inc. and an R rating (regulatory intervention) financial strength rating from Standard & Poor's Ratings Services. Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK).