Ambac Financial Group Inc. said yesterday its recapitalization plan for its muni-only bond insurer Connie Lee Insurance Inc. has been well received by the market, and it expects the insurer will begin writing new business as early as Oct. 1.

Ambac should receive a response from Wisconsin insurance regulators on its plan shortly. In the meantime, the company's discussions with market participants have convinced it demand for Connie Lee's product will exist.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.