Fitch Eyes 388 Ambac-Linked ABS Classes

Three hundred and eighty-eight classes of asset-backed securities supported by financial guaranty policies from Ambac Assurance Corp. have been placed on Rating Watch Negative by Fitch Ratings.Fitch said the actions followed its placement of Ambac Financial Group (the parent company of Ambac Assurance) on Rating Watch Negative. Also placed on Rating Watch Negative were the Insurer Financial Strength ratings of Ambac's financial guaranty insurance subsidiaries.