Ambac lower after earnings; considering sale of $350M in junior surplus notes

Q2 operating loss of $113.3M or $2.51 per share vs. a profitable Q2 one year ago. The loss comes as the company takes a charge for interest accrued on unpaid claims.

Net premiums earned of $65M vs. $87.7M a year ago. Net investment income of $80.1M vs. $58.4M a year ago.

The fund "strategic priorities" (acquisitions), Ambac (AMBC -2.9%) is considering the sale of $350M of junior surplus notes issued to the company by the Segregated Account when it emerged from bankruptcy.

Previously: Ambac Financial EPS of -$4.61

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