by CalculatedRisk on 1/18/2008 10:45:00 AM

From MarketWatch: Ambac opts against raising capital via stock sale

In a reversal on Friday, Ambac ... thought better of pursuing plans to raise about $1 billion, citing current market conditions and uncertainty that any new capital would secure its AAA credit rating.

The troubled bond insurer also said it would continue to evaluate its alternatives.

What a surprise!