S&P Piece

This is what I was referring to below

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6oPHc1OQMxI&refer=home

Writedowns from subprime securities will probably rise to $285 billion, New York-based S&P said today in a report. The ratings company previously estimated losses of $265 billion in January. S&P raised its estimate because of increased loss assumptions for collateralized debt obligations.

So this estimate compared to January's is right? It won't be revised to 300, or 400, or 600 billion? Oh and Ambac is still AAA? What jokers.