Correction: Fitch Affirms 28 RMBS Classes From 5 Sequoia Securitizations.Business Editors NEW YORK--(BUSINESS WIRE)--May 18, 2004 (This is an amended version of a press release issued yesterday. The 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. classes in Trust 6 have been adjusted, reducing the number of affirmed classes to 28 from 30.) Fitch fitch: see polecat. Ratings-NY-May 17, 2004: 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. has affirmed 28 classes for the following Sequoia sequoia (sĭkwoi`ə), name for the redwood (Sequoia sempervirens) and for the big tree, or giant sequoia (Sequoiadendron giganteum), both huge, coniferous evergreen trees of the bald cypress family, and for extinct related species. Mortgage Trust, 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 : Sequoia Mortgage Trust, Trust 5, mortgage pass-through certificates -- Class A, AR 'AAA'; -- Class B-1 'AA'; -- Class B-2 'A'; -- Class B-3 'BBB'; -- Class B-4 'BB'; -- Class B-5 'B'. Sequoia Mortgage Trust, Trust 6, mortgage pass-through certificates -- Class A, AR 'AAA'; -- Class B-1 'AA'; -- Class B-2 'A'; -- Class B-3 'BBB'; Sequoia Mortgage Trust, Trust 7, mortgage pass-through certificates -- Class A, AR 'AAA'; -- Class B-1 'AA'; -- Class B-2 'A'; -- Class B-3 'BBB'; -- Class B-4 'BB'; -- Class B-5 'B'. Sequoia Mortgage Trust, Trust 8, mortgage pass-through certificates -- Class A, AR 'AAA'; -- Class B-1 'AA'; -- Class B-2 'A'; -- Class B-3 'BBB'; -- Class B-4 'BB'; -- Class B-5 'B'. Sequoia Mortgage Trust, Trust 9, mortgage pass-through certificates -- Class A, AR 'AAA'; -- Class B-1 'AA'; -- Class B-2 'A'; -- Class B-3 'BBB'; -- Class B-4 'BB'; -- Class B-5 'B'; The affirmations reflect 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 consistent with future loss expectations. Further information regarding current delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. , loss and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'. |
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