Syncora Holdings Ltd. (fka SYCRF)

[InvestorPM]

ent this out early today but did not realize i sent it Private vs public

When an insurance company or a bank buys any asset they have to assign a risk factor to it and that is taken into consideration when they are calculating the level of regulatory capital that they have to hold. So the riskier the assets then the higher their regulatory capital levels will be. My guess is that the risk factor assigned to any of Syncora's debt/prefs/surplus notes is relatively high. So my guess is from a regulatory reporting point of view buying their own instruments back does not make sense.