NU Online News Service, April 9, 3:42 p.m. EDT

Ambac Financial Group Inc. reported a fourth-quarter net profit compared to a $2 billion loss for the 2008 period, but debt obligations cloud its future and could mean bankruptcy, the bond insurer reported today.

The New York-based firm reported 2009 fourth-quarter net income of $558 million, or $1.93 a share, compared to a net loss of $2.34 billion, or $8.14 a share, for the comparable period of 2008.

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