The bankruptcy of a Napa, Calif.-based nonprofit could deal a significant blow to the remaining statutory capital of bond insurer ACA Financial Guaranty Inc., a recent financial statement filed by the firm shows.

In its annual report to the Maryland Insurance Administration, ACA said it could lose between $40 million to $50 million on a present-value basis due to interest and principal payments it will have to make on $77 million of bonds outstanding from the now-bankrupt Copia: The American Center for Wine, Food and the Arts.

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