    <SEC-DOCUMENT>0000902664-16-006719-index.html : 20160414
    <SEC-HEADER>0000902664-16-006719.hdr.sgml : 20160414
    <ACCEPTANCE-DATETIME>20160413183444
    ACCESSION NUMBER:		0000902664-16-006719
    CONFORMED SUBMISSION TYPE:	DFAN14A
    PUBLIC DOCUMENT COUNT:		30
    FILED AS OF DATE:		20160414
    DATE AS OF CHANGE:		20160413
    EFFECTIVENESS DATE:		20160414

    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:		161570138

    	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>p16-1077dfan14a.htm
    <DESCRIPTION>AMBAC FINANCIAL GROUP, INC.
    <TEXT>
    Document 1 - file: p16-1077dfan14a.htm

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>EX-99
    <SEQUENCE>2
    <FILENAME>p16-1077exhibit_1.htm
    <DESCRIPTION>EXHIBIT 1
    <TEXT>
    Document 2 - file: p16-1077exhibit_1.htm

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>3
    <FILENAME>exhibit1_page01.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 3 - file: exhibit1_page01.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>4
    <FILENAME>exhibit1_page02.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 4 - file: exhibit1_page02.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>5
    <FILENAME>exhibit1_page03.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 5 - file: exhibit1_page03.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>6
    <FILENAME>exhibit1_page04.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 6 - file: exhibit1_page04.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>7
    <FILENAME>exhibit1_page05.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 7 - file: exhibit1_page05.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>8
    <FILENAME>exhibit1_page06.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 8 - file: exhibit1_page06.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>9
    <FILENAME>exhibit1_page07.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 9 - file: exhibit1_page07.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>10
    <FILENAME>exhibit1_page08.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 10 - file: exhibit1_page08.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>11
    <FILENAME>exhibit1_page09.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 11 - file: exhibit1_page09.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>12
    <FILENAME>exhibit1_page10.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 12 - file: exhibit1_page10.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>13
    <FILENAME>exhibit1_page11.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 13 - file: exhibit1_page11.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>14
    <FILENAME>exhibit1_page12.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 14 - file: exhibit1_page12.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>15
    <FILENAME>exhibit1_page13.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 15 - file: exhibit1_page13.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>16
    <FILENAME>exhibit1_page14.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 16 - file: exhibit1_page14.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>17
    <FILENAME>exhibit1_page15.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 17 - file: exhibit1_page15.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>18
    <FILENAME>exhibit1_page16.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 18 - file: exhibit1_page16.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>19
    <FILENAME>exhibit1_page17.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 19 - file: exhibit1_page17.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>20
    <FILENAME>exhibit1_page18.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 20 - file: exhibit1_page18.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>21
    <FILENAME>exhibit1_page19.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 21 - file: exhibit1_page19.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>22
    <FILENAME>exhibit1_page20.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 22 - file: exhibit1_page20.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>23
    <FILENAME>exhibit1_page21.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 23 - file: exhibit1_page21.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>24
    <FILENAME>exhibit1_page22.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 24 - file: exhibit1_page22.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>25
    <FILENAME>exhibit1_page23.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 25 - file: exhibit1_page23.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>26
    <FILENAME>exhibit1_page24.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 26 - file: exhibit1_page24.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>27
    <FILENAME>exhibit1_page25.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 27 - file: exhibit1_page25.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>28
    <FILENAME>exhibit1_page26.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 28 - file: exhibit1_page26.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>29
    <FILENAME>exhibit1_page27.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 29 - file: exhibit1_page27.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>EX-99
    <SEQUENCE>30
    <FILENAME>exhibit_1.pdf
    <DESCRIPTION>PDF OF EXHIBIT 1
    <TEXT>
    Document 30 - file: exhibit_1.pdf

    </DOCUMENT>
    </SEC-DOCUMENT>