Carey Commercial Mortgage Trust Series 2002-1 Rated By Fitch Ratings.Business Editors CHICAGO--(BUSINESS WIRE)--Aug. 29, 2002 Carey Commercial Mortgage Trust series 2002-1, commercial mortgage pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size are rated by Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. as follows: --$119,772,000 class A 'AAA'; --$172,334,739 class IO(1) 'AAA'; --$9,478,000 class B 'AA'; --$9,478,000 class C 'A'; --$9,478,000 class D 'BBB'; --$24,128,739 class E not rated. (1) Interest-only All of the classes are privately placed pursuant to rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. of the Securities Act of 1933. The certificates represent beneficial ownership interest in the trust, primary assets of which are 34 fixed-rate loans Fixed-rate loan A loan whose rate is fixed for the life of the loan. having an aggregate principal balance of approximately $172,334,739 as of the cutoff date. For a detailed description of Fitch fitch: see polecat. Ratings' rating analysis, please see the report titled 'Carey Commercial Mortgage Trust Series 2002-1', dated Aug. 29, 2002 and available on the Fitch Ratings web site at 'www.fitchratings.com'. |
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