BRADENTON, Fla. - Miami-Dade County, Fla., hopes to terminate swaps insured by troubled Ambac Assurance Corp.

County Commissioners Tuesday authorized the termination of six Ambac-insured swaps and the replacement of Ambac on a seventh swap with the Bank of New York Mellon. The commissioners took the action out of concern that an Ambac insolvency would place the county in a riskier position when it came to controlling termination events, which are currently favorable for the county.

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