Moody’s Investors Service said the proposed rehabilitation plan to deal with Ambac Assurance Corp.’s segregated account of high-risk insured assets is a credit positive and, if confirmed by the courts, will put the Wisconsin-domiciled bond insurer “one step closer to an orderly run-off.”

Ambac has not written new policies since June 2008. It was a triple-A rated insurer before its portfolio imploded from guaranteeing toxic mortgage-related ­assets.

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.