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Syncora Guarantee Announces Successful Refinancing of Reliance Rail

11/28/17

HAMILTON, Bermuda, Nov. 28, 2017 (GLOBE NEWSWIRE) -- Syncora Guarantee Inc. (“Syncora” or the “Company”) today announced the successful refinancing of Reliance Rail, a large public private partnership for the design, manufacture and maintenance of commuter trains in Sydney, Australia.  As insurer to 50% of the Reliance Rail debt, Syncora has been a strong voice in the negotiations and has worked diligently to help facilitate a refinancing.  With the refinancing complete, Syncora has removed a significant flag list credit that comprises a substantial portion of its “liquidity mismatch.”  Following the announcement, Frederick B. Hnat, Syncora’s Chief Executive Officer stated, “We are extremely pleased to see the successful completion of the Reliance Rail refinancing.  The resolution of Reliance Rail effectively removes one of our largest and most complex credits, making it possible for the company to focus on our other key strategic initiatives.”

About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC:SYCRF) is a Bermuda-domiciled holding company.  Syncora Guarantee Inc. is a wholly-owned subsidiary of Syncora Holdings Ltd.  For additional information, please visit www.syncora.com.

Contacts
Scott Beinhacker
Syncora Holdings Ltd.
(212) 478-3400
investorrelations@scafg.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 the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's historical filings with the NYDFS, and in the Company's and Syncora Guarantee Inc.'s GAAP and statutory financial statements, as applicable, posted on its website at www.syncora.com.  Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company 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 Holdings Ltd.