Syncora Guarantee Inc. Announces Successful Commutation of its Largest Retained Insured Credit

NEW YORK, July 2, 2020 /PRNewswire/ -- Syncora Guarantee Inc. ("Syncora Guarantee") hereby announces the successful commutation of its largest retained insured credit.  The commutation will result in an immaterial increase in Syncora Guarantee's surplus, without giving effect to other changes, as of March 31, 2020.  The estimated amount of the commutation payment to be made in connection with the commutation was reflected in Syncora Guarantee's Statutory Basis Financial Statements as of March 31, 2020 (unaudited) that were posted on Syncora Guarantee's website (www.syncoraguarantee.com).  The ultimate financial impact of this commutation will be set forth in Syncora Guarantee's Statutory Basis Financial Statements as of June 30, 2020 (unaudited), which are expected to be available on Syncora Guarantee's website no later than August 15, 2020.

About Syncora Guarantee Inc.
Syncora Guarantee Inc. is a New York-domiciled insurance company that is a wholly owned subsidiary of Syncora FinanceCo LLC.  For additional information, please visit www.syncoraguarantee.com.

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 Syncora Guarantee's control. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. Syncora Guarantee 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.

SOURCE Syncora Guarantee