Bond insurer Syncora Guarantee Inc. will temporarily suspend claims payments on April 26 if it does not complete transactions to reduce its structured finance exposures and meet its minimum required policyholders' surplus.

The suspension will hold until Syncora either completes the agreements and meets the minimum capital requirements or determines a comprehensive restructuring agreement is impossible, in which case it would consent to rehabilitation to the New York Insurance Department, Syncora said.

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.