NU Online News Service, April 14, 2:10 p.m. EDT
Moody's Investors Service said it has downgraded loss-battered New York-based bond insurer Ambac Assurance Corp. and Ambac Assurance UK Ltd., dropping "Adequate" ratings for both to "Ba3″ from "Baa1."
The rating firm also downgraded the senior debt of Ambac Financial Group, Inc. to "Caa1″ ("Very Poor") from "Ba1″ ("Questionable").
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