Moody's Investors Service lowered the rating of the senior unsecured debt of Ambac Financial Group to 'C' from 'Ca.'

The rating agency also placed the 'Caa2' insurance financial strength ratings (IFSR) of Ambac Assurance Corp. (ACC) on review for possible upgrade and the 'Caa2' IFSR for Ambac Assurance UK (AUK) on review with direction uncertain.

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