Citicorp Mtg Sec Pass-throughs Affirmed, Off S&P Watch.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 11/5/98--Standard & Poor's today affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its double-`A' rating on Citicorp Mortgage Securities Inc.'s REMIC 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 series 1993-2 class B and removed the rating from CreditWatch, where it was placed April 1995. This series was removed from CreditWatch due to its five years of seasoning, good performance, low levels of delinquencies, and sufficient credit coverage to support the certificates at its current rating level. The issue was placed on CreditWatch with other pool-insured deals in April 1995 due to the potential for noncovered losses to result in principal losses to certificateholders. ---CreditWire. |
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