by Calculated Risk on 1/16/2008 11:05:00 PM

From Moody's (no link): Moody's has placed the ratings of Ambac Assurance Corp. and Ambac Assurance UK on review for possible downgrade. Moody's has also placed the ratings of Ambac Financial Group, Inc. (the holding company) and related trusts on review for possible downgrade. Also under review for possible downgrade are Moody's-rated securities that are guaranteed by Ambac.