Replies to post #7911 on Syncora Holdings Ltd. (fka SYCRF)

[eevw]

This SA article? Is good, plus the comments...

EEVW



Syncora Offers Upside With 3 Major Catalysts
Jan 25 2017, 11:59
About: SYCRF • Includes: AGO, AMBC, MBI
History

Syncora Holdings (OTCPK:SYCRF) is a bond insurer in runoff. After being spun off by XL Capital in 2008, Syncora incurred major losses during the financial crisis. It was on the brink of bankruptcy in 2008, and the New York Department of Financial Services put the company in remediation to protect policyholders.

However, the company has fought its way back to solvency. Over the past 8 years, it has recovered substantial value through legal settlements, commutations, and restructuring. As a result, Syncora's equity value is far greater than the market's perception and is likely to increase further.

In recent years, the company's results have been heavily influenced by one-off items, including lawsuits over mortgage-backed securities. Syncora insured mortgage-backed...