100 F Street NE Mail Stop 5631 Washington, DC 20549 Phone: (202) 551-4790 Fax: (703) 813-9322. On June 8, 2010 Ambac announced that it would likely seek a pre-packaged bankruptcy as it was unable to pay dividends from its bond insurance unit to the holding company. ** In February 2021, Moody's completed a periodic review of the ratings of M&T Bank Corporation and are associated units. Since that time Ambac has dropped appreciably in share price to approximately 0.50 per share as of the end of August 2010. [7] Founded in 1909, it has evolved to be split into t