NU Online News Service, Nov. 9, 2:16 p.m. EST

Ambac Financial Group was not able to reach an agreement withdebt holders and has filed for Chapter 11 bankruptcy relief.

According to a statement from Ambac, the company has not beenable to raise capital and could not agree to terms with a committeeof debt holders to restructure its debt under a pre-packagedbankruptcy agreement.

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