Syncora Holdings Ltd. (fka SYCRF)

[InvestorPM]

Consolidated Statements were signed by the auditors on June 11, 2013 and therefor include reference to Jefferson County but do not reflect the financial impact of Jefferson county since the actual deal has not yet been approved by the courts.

Great news is the the total shareholder deficit dropped from $764 million to $63 million and that does not yet reflect the Jefferson county deal



The Company entered into a plan support agreement (“PSA”), dated as of June 6, 2013, with Jefferson County and other bond insurers that insure Jefferson County sewer obligations. This conditional settlement agreement provides a framework for resolving Jefferson County’s overall sewer indebtedness and the Company’s exposure thereto through a consensual plan of debt
readjustment (the “Plan”).

If the Plan is implemented as contemplated, the Company’s losses with respect to Jefferson County are currently estimated to be within its established loss reserves.