It insures and reinsures bonds and other loan agreements for college and university improvement projects.
Insured bonds, which carried maturities from 2014 to 2019, were priced to yield 7.15 percent.
Insured bonds due in 1996 were offered at 6.50 percent, while the maturities of 2002 through 2004 ranged from 7.26 percent to 7.29 percent.
Insured bonds sold by New York City and Massachusetts have also held up well in the face of bad fiscal news.
In the 1970's, Ambac became a pioneer in insuring municipal bonds and is still among the largest companies in the field.
But it is a very different to insuring bonds backed by mortgages, with very little reward for a lot of risk.
Skepticism at First At first there was skepticism in the mutual-bond industry over the idea of insuring bonds.
Included in the issue are insured serial bonds with maturities from 1999 to 2003, and a $107 million uninsured term bond maturing in 2018.
Insured bonds, whose principal and interest payments are guaranteed by private companies, are rated triple A by both agencies.
Berkshire created this government bond insurance company in December, 2007 to insure municipal and state bonds.