New York

Ambac Loses $3.2 Billion; Pursuing “Strategic Alternatives” 

Ambac Financial Group, Inc., the first monoline bond insurer to see its AAA credit rating wiped out because of ill-timed mortgage exposure, said it is pursuing “strategic alternatives” after reporting a $3.2 billion quarterly loss — that’s $31.45 per share — on Tuesday. “Strategic alternatives” usually refer to the pursuit of a sale. From Bloomberg: