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Wis. insurance commissioner disapproves Ambac's request for payment of interest on surplus notes

The Wisconsin Insurance Commissioner has disapproved the annualrequest by Ambac Assurance Corp.and Ambac Assurance Corp. SegregatedAccount to pay accrued unpaid interest on senior surplus notes.

The interest on the notes issued by Ambac Assurance and segregatedaccount was scheduled to be paid June 7. The Commissioner has such requests since the issuanceof the notes.

Ambac Assurance is the principal operating subsidiary of