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Security Capital Dodges the Dreaded “Going Concern” Opinion HW+

Mar 14, 2008By

Troubled bond insurer Security Capital Assurance, hit hard by the downturn in the residential mortgage-backed securities market, said late Thursday that it probably won’t receive a “going concern” opinion from its auditors when it files its annual report later this month. Such an opinion is usually interpreted as a precursor to insolvency, and the company had warned in late February that its auditors were considering such language.

3d rendering of a row of luxury townhouses along a street

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