Moody’s (MCO) give credit rating of "Aa1" to both Ambac (ABK) and MBIA (MBI). But, no one else on Wall St. seems to see it that way.
According to Reuters "at Thursday’s close, Ambac’s swaps implied a rating of "Caa1," seven levels below investment grade and 14 notches below its actual rating."
The stock market also seems to believe that Ambac (ABK) is hardly "investment grade." Shares in the bond insurance company are down to under $26 today, off over 12%. They are also down from a high of $96.10.
It appears that some traders don’t think Ambac is going to make it out of the current credit crisis alive.
Douglas A. McIntyre
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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