From the Conference call in regards to Reliance Rail
With respect to Reliance Rail, we are very pleased to report that the parties to the transaction, including Syncora, have been working hard to facilitate a refinancing of the debt obligations related to the largest and one of our most complex credits. We are optimistic that a refinancing will occur and, if it does, that the net result will be a significant reduction in the risk of our insured portfolio, which should greatly improve our liquidity mismatch and the overall stability of our financial condition.
