    <SEC-DOCUMENT>0000902664-16-006398-index.html : 20160314
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    <ACCEPTANCE-DATETIME>20160314172152
    ACCESSION NUMBER:		0000902664-16-006398
    CONFORMED SUBMISSION TYPE:	DFAN14A
    PUBLIC DOCUMENT COUNT:		24
    FILED AS OF DATE:		20160314
    DATE AS OF CHANGE:		20160314
    EFFECTIVENESS DATE:		20160314

    SUBJECT COMPANY:

    	COMPANY DATA:
    		COMPANY CONFORMED NAME:			AMBAC FINANCIAL GROUP INC
    		CENTRAL INDEX KEY:			0000874501
    		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
    		IRS NUMBER:				133621676
    		STATE OF INCORPORATION:			DE
    		FISCAL YEAR END:			1231

    	FILING VALUES:
    		FORM TYPE:		DFAN14A
    		SEC ACT:		1934 Act
    		SEC FILE NUMBER:	001-10777
    		FILM NUMBER:		161504816

    	BUSINESS ADDRESS:
    		STREET 1:		ONE STATE ST PLZ
    		CITY:			NEW YORK
    		STATE:			NY
    		ZIP:			10004
    		BUSINESS PHONE:		2126680340

    	MAIL ADDRESS:
    		STREET 1:		ONE STATE ST PLZ
    		CITY:			NEW YORK
    		STATE:			NY
    		ZIP:			10004

    	FORMER COMPANY:
    		FORMER CONFORMED NAME:	AMBAC INC /DE/
    		DATE OF NAME CHANGE:	19930328

    FILED BY:

    	COMPANY DATA:
    		COMPANY CONFORMED NAME:			CANYON CAPITAL ADVISORS LLC
    		CENTRAL INDEX KEY:			0001074034
    		IRS NUMBER:				000000000
    		STATE OF INCORPORATION:			DE

    	FILING VALUES:
    		FORM TYPE:		DFAN14A

    	BUSINESS ADDRESS:
    		STREET 1:		2000 AVENUE OF THE STARS, 11TH FLOOR
    		CITY:			LOS ANGELES
    		STATE:			CA
    		ZIP:			90067
    		BUSINESS PHONE:		3102721000

    	MAIL ADDRESS:
    		STREET 1:		2000 AVENUE OF THE STARS, 11TH FLOOR
    		CITY:			LOS ANGELES
    		STATE:			CA
    		ZIP:			90067
    </SEC-HEADER>
    <DOCUMENT>
    <TYPE>DFAN14A
    <SEQUENCE>1
    <FILENAME>p16-0935dfan14a.htm
    <DESCRIPTION>AMBAC FINANCIAL GROUP, INC.
    <TEXT>
    Document 1 - file: p16-0935dfan14a.htm

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    <DOCUMENT>
    <TYPE>EX-99
    <SEQUENCE>2
    <FILENAME>exhibit1.htm
    <DESCRIPTION>EXHIBIT 1
    <TEXT>
    Document 2 - file: exhibit1.htm

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    <TYPE>EX-99
    <SEQUENCE>3
    <FILENAME>exhibit2.htm
    <DESCRIPTION>EXHIBIT 2
    <TEXT>
    Document 3 - file: exhibit2.htm

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    <TYPE>EX-99
    <SEQUENCE>4
    <FILENAME>exhibit2.pdf
    <DESCRIPTION>EXHIBIT 2
    <TEXT>
    Document 4 - file: exhibit2.pdf

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    <DOCUMENT>
    <TYPE>EX-99
    <SEQUENCE>5
    <FILENAME>exhibit3.htm
    <DESCRIPTION>EXHIBIT3
    <TEXT>
    Document 5 - file: exhibit3.htm

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    <TYPE>GRAPHIC
    <SEQUENCE>6
    <FILENAME>image_001.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 6 - file: image_001.jpg

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    <DESCRIPTION>GRAPHIC
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    Document 7 - file: image_002.jpg

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    <DESCRIPTION>GRAPHIC
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    Document 8 - file: image_003.jpg

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    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 9 - file: image_004.jpg

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    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 10 - file: image_005.jpg

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    <FILENAME>image_006.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 11 - file: image_006.jpg

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    <FILENAME>image_007.jpg
    <DESCRIPTION>GRAPHIC
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    Document 12 - file: image_007.jpg

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    Document 13 - file: image_008.jpg

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    <TEXT>
    Document 14 - file: image_009.jpg

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    <SEQUENCE>15
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    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 15 - file: image_010.jpg

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    <FILENAME>image_011.jpg
    <DESCRIPTION>GRAPHIC
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    Document 16 - file: image_011.jpg

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    <DESCRIPTION>GRAPHIC
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    Document 17 - file: image_012.jpg

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    Document 18 - file: image_013.jpg

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    <DESCRIPTION>GRAPHIC
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    Document 19 - file: image_014.jpg

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    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 20 - file: image_015.jpg

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    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 21 - file: image_016.jpg

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    <DESCRIPTION>GRAPHIC
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    Document 22 - file: image_017.jpg

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    Document 23 - file: image_018.jpg

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