(KAP) CapMAC Guarantees $132.5 Million Transaction for AMRESCO Commercial Lending Corporation.NEW YORK--(BUSINESS WIRE)--June 20, 1997--Capital Markets Assurance Corporation ("CapMAC") announced today that it has guaranteed the $132.5 million securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. by AMRESCO Commercial Lending Corporation ("ACLC ACLC American Clergy Leadership Conference ACLC African Canadian Legal Clinic ACLC AMA Computer Learning Center (Philippines) ACLC Aviation Center Logistics Command ACLC Anti Car Lifting Cell (police, Pakistan) "). The transaction is CapMAC's first with ACLC, which was known as Commercial Lending Corporation until its acquisition by AMRESCO, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . on March 31, 1997. The securities are rated triple-A by Standard & Poor's, Moody's, and Duff & Phelps as a result of the CapMAC guarantee. The securities are comprised of a pool of long-term fixed- and adjustable-rate franchise loans to a geographically diversified group of franchisees of national restaurant chains, automotive aftermarket chains, and other national franchise chains in the United States. Matt Moore, a Managing Director at ACLC, said, "We are very happy with the quality of service which CapMAC provided on this securitization." Steven S. Cooke, a Vice President at CapMAC, said, "CapMAC is pleased to have been selected by ACLC, an established issuer in the structured finance marketplace, to provide credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing for this transaction. We look forward to continuing to work with ACLC in the future." ACLC, based in Boise, Idaho, has been active in originating, servicing, and securitizing long-term fixed- and floating-rate loans to established franchisees of nationally recognized chains since 1993. These franchises include quick-service and casual/family dining restaurants, automotive-aftermarket establishments, hotels, and truckstop/travel center facilities. AMRESCO, INC. is a leading specialty financial services company. CapMAC is a monoline financial guarantee insurance company based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , with offices in London and Paris. The company is a leading provider of financial guarantee insurance of structured securities, primarily asset-backed securities, worldwide. CapMAC is rated triple-A by Standard & Poor's, Moody's, Duff & Phelps, and Nippon Investors Service. CapMAC is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CapMAC Holdings Inc. (NYSE NYSE See: New York Stock Exchange :KAP) which, through its subsidiaries, also provides advisory and structuring services in connection with structured and asset-backed financings; investment management; and access to funding for its customers through third-party owned and managed securitization vehicles. CONTACT: CapMAC Mary Bergo Vermylen, 212/891-6719 |
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