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Syncora Holdings Ltd. Announces Posting of Quarterly Statements for Syncora Guarantee Inc. and Syncora Capital Assurance Inc. and Provides Update on Syncora Guarantee Inc.'s Short-term Surplus Notes

Wednesday, November 14, 2012 6:24 PM


NEW YORK, Nov. 14, 2012 /PRNewswire/ -- Syncora Holdings Ltd. (the "Company") today announced that it has posted to its website at www.syncora.com, quarterly statements as of September 30, 2012 for each of Syncora Guarantee Inc. ("SGI") and Syncora Capital Assurance Inc. The Company also reported that the New York State Department of Financial Services (the "NYDFS") disapproved the payment of amounts currently outstanding on $150,000,000 original principal amount of short-term surplus notes issued by SGI.  There can be no assurance as to when or whether the conditions to payment of SGI's surplus notes, including NYDFS approval thereof, will be satisfied.  Until conditions to payment have been satisfied, SGI has no obligation to make payments on such surplus notes.

About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC: SYCRF) is a Bermuda-domiciled holding company. Syncora Guarantee Inc. and Syncora Capital Assurance Inc. are wholly owned subsidiaries of Syncora Holdings Ltd.

Contact
Michael Corbally
1 212 478 3400
michael.corbally@scafg.com

SOURCE Syncora Holdings Ltd.

SOURCE Syncora Holdings Ltd.

(Source: PR Newswire )
(Source: Quotemedia)

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