Syncora Holdings Ltd. (OTCPK:SYCR.F) announced that its Board of Directors has commenced a formal review process to explore and evaluate strategic alternatives for the Company focused on optimizing shareholder value and returning capital to shareholders. These alternatives include, among other things, a sale of part or all of the company or its wholly owned, New York financial guarantee insurance subsidiary, Syncora Guarantee Inc. The Board of Directors is being advised by Moelis & Company (NYSE:MC), its financial advisor, Debevoise & Plimpton LLP, its US legal advisor, and Appleby, its Bermuda legal advisor.