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Fitch Cuts Ambac to AA; First Monoline to Lose AAA Status 

Jan 18, 2008By

Fitch Ratings today did what some thought might not happen — it downgraded a AAA-rated monoline insurer. The rating agency downgraded troubled guarantor Ambac Financial Group and its affliliates, after the insurer said Friday morning that it would abandon a plan to raise the additional capital needed to maintain its rating.

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