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Ambac Financial says it has enough liquidity

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By AP
07 July 2008 @ 05:38 pm EST

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NEW YORK - Bond insurer Ambac Financial Group Inc. on Monday said it has enough liquidity to operate, responding to investor speculation to the contrary.

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ABK

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"It is important for us to continually communicate that we have ample liquidity to manage our commitments going forward," said Chairman and Chief Executive Michael Callen in a statement.

The company said there had been "persistent and unfounded" speculation about Ambac's liquidity.

Ambac said current collateral and termination obligations have been adequately covered by the investment agreement asset portfolio.

Shares of Ambac rose 6 cents, or 4.5 percent, to close at $1.39.

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