Amid write downs and weak new business generation

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Prada Replica Handbags Ambac Chief Executive Michael Callen said during a recent conference call that the company will not likely be able to generate much new business until losses show evidence of reaching a plateau, which could take until the beginning of next year.Amid write downs and weak new business generation, Ambac posted a $1.66 billion first quarter loss last week. After results, Ambac was below its net asset requirements for a $400 million credit facility it is not using. The company is talking to its banks and says its liquidity position is strong.Some investors speculate Ambac could have to raise capital sooner rather than later after its abysmal results and, if it does, its net worth could raise thorny questions for investors.The company worked for weeks to raise capital earlier this year and eventually sold $1.5 billion of shares and convertible securities in March, in a deal that helped preserve its main unit’s top credit ratings.Those ratings are crucial for winning new business. Prada Replica Handbags

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