SCA 0.89 +0.23 (+34.85%)AH, Great day for SCA, large short covering today.IMO, shorts were looking for BK....weeeeeeee
Security Capital avoids 'going concern' warning from auditors
By Alistair Barr
Mar 13, 2008 20:26:00 (ET)
SAN FRANCISCO (MarketWatch) -- Security Capital Assurance said late Thursday that its auditors probably won't include a so-called going-concern warning in its annual regulatory filing after the bond insurer took drastic steps to try to boost capital.
The company warned earlier this year that auditors might include such a statement. Security Capital shares jumped 30% to 86 cents in late trading on Thursday after the insurer said that's now unlikely.
Security Capital also said its ended seven credit-default swap contracts with one of its counterparties, but noted the termination is being disputed by that customer.
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