Troubled Bermuda-based financial guarantor Security Capital Assurance Ltd. said yesterday it would try to save its listing on the New York Stock Exchange (NYSE).

The NYSE has notified SCA that was not in compliance with a continued listing standard because its average share price had fallen below one dollar for a 30-day period, the company announced.

As of April 1, 2008, the company's common shares reached a 30 trading-day average closing price of $0.98.

In a statement yesterday, SCA said it intended to try to avoid being delisted.

"The company notified the NYSE today that it intends to cure the average price deficiency and maintain its listing," the statement read. "However, there can be no assurance that the company will be successful in its attempt to cure the deficiency."

SCA's share price has suffered because of the crippling loss of its AAA ratings from ratings agencies, due to its exposure to sub-prime-mortgage-related investment products.