Excellent synopsis, InvestorPM, right on the money.
===== Tangential but NYDFS just provided the following action for FGIC
FOR IMMEDIATE RELEASE
FGIC Announces NYSDFS Approval of CPP Upward Adjustment
NEW YORK, November 22, 2017 – Financial Guaranty Insurance Company (“FGIC”) today
announced that it had received notice from the New York State Department of Financial Services
(the “NYSDFS”) that, pursuant to and in accordance with the terms of the First Amended Plan of
Rehabilitation for FGIC, dated June 4, 2013, the NYSDFS has approved an increase of the cash
payment percentage (CPP) of permitted policy claims that FGIC is required to pay under such
Plan from the current 25% to 33%, effective December 4, 2017. The 2017 Annual CPP
Revaluation Notice, which is posted on the Policyholder Information Center at
www.fgic.com/policyholderinfocenter/, provides additional information concerning the 2017
CPP Revaluation.
About FGIC
FGIC is a New York stock insurance corporation and a wholly owned subsidiary of FGIC
Corporation. FGIC emerged from rehabilitation on August 19, 2013, and is responsible for
administering its outstanding insurance policies in accordance with the terms of the First
Amended Plan of Rehabilitation for FGIC, dated June 4, 2013. Please visit www.fgic.com.
Investor and Media Contacts:
Investor Relations:
Tim Tattam
+1 212.312.2776
Press Relations:
+1 212.312.2775
FORWARD-LOOKING STATEMENTS
This notice contains “forward-looking statements” – that is, statements related to possible future
events. Forward-looking statements often address expectations and beliefs as to future
performance, results and business plans. You should not place undue reliance on forward-
looking statements because they speak only as of the date they are made and are necessarily
subject to risks and uncertainties that could cause actual results and performance to differ
materially from those expressed or implied by such forward-looking statements. Forward-
looking statements are based upon FGIC management’s current expectations and beliefs
concerning future events. FGIC undertakes no obligation to update or revise any forward-looking
statement, whether as a result of new information, future developments or otherwise, except as
required by law.
