Replies to post #8606 on Syncora Holdings Ltd. (fka SYCRF)

[DennyCrane550]

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.

[DennyCrane550]

Now that the German Hedgerows [Reliance Rail] have been cut thru .......... Patton's Tanks can now breakthru ...

Hopefully, we hear the SGI/SCAI merger next (mgmt anticipated by YEAR END), along with possible Reinsurance Transaction, further derisking, & favorable fortune (toll roads auction/sale, settlements) ahead


~ Onward ~

"It was impossible for tanks to traverse this region because as they would climb the hedgerow, their noses would go over the top, allowing the Germans on the other side, to shoot thru the bottom "



========




Press Release


Syncora Announces NYDFS Approval of $27.5mm Payment to Third-Party Holders of Long-Term and Short-Term Surplus Notes


11/27/17
HAMILTON, Bermuda, Nov. 27, 2017 (GLOBE NEWSWIRE) -- Syncora Holdings Ltd. (“Syncora” or the “Company”) today announced that the New York State Department of Financial Services has approved payment on the Syncora Guarantee Inc. (“SGI”) Long-Term Surplus Notes (the “Long-Term Surplus Notes”) and Short-Term Surplus Notes (“Short-Term Surplus Notes” and, together with the Long-Term Surplus Notes, the “Surplus Notes”) held by third-party holders in the amounts set forth below:


Accrued and
Unpaid Interest Principal Total
Total Payment to Long-Term Surplus Notes held by Third Parties $21,735,972 $0 $21,735,972
Total Payment to Short-Term Surplus Notes held by Third Parties $1,606,493 $4,157,535 $5,764,028
Total $23,342,465 $4,157,535 $27,500,000

As required by the terms of the Surplus Notes, the Company has provided notice that the Record Date for such payment has been set as December 18, 2017, and further notice that the Payment Date with respect to the payment set forth above is December 28, 2017.

About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC:SYCRF) is a Bermuda-domiciled holding company. Syncora Guarantee Inc. is a wholly-owned subsidiary of Syncora Holdings Ltd. For additional information, please visit www.syncora.com.

Contacts
Scott Beinhacker
Syncora Holdings Ltd.
[phone]
[e-mail]

Important Information and Forward Looking Statements
This press release contains statements about future results, plans and events that may constitute "forward-looking" statements. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's historical filings with the NYDFS, and in the Company's and Syncora Guarantee Inc.'s GAAP and statutory financial statements, as applicable, posted on its website at www.syncora.com. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements are made.

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Source: Syncora Holdings Ltd.