Derivative Fitch Releases 2nd Round of U.S. CREL Surveyor Snapshots.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Derivative Fitch has released five additional CREL CREL Circular Regional Externa de Lisboa Surveyor Snapshots, its enhanced surveillance product for U.S. managed commercial real estate loan (CREL) CDOs. CREL Surveyor Snapshots are available on Derivative Fitch's web site on the respective transaction's CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the SMART page, under Research. CREL Surveyor Snapshots are now available for the following transactions: --CapitalSource Real Estate Loan Trust 2006A; --Guggenheim Structured Real Estate Funding CDO 2006-4 Ltd./LLC; --Newcastle CDO VIII; --N-Star REL CDO VIII Ltd./LLC; --RAIT CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element CDO I Ltd./LLC. These deals closed in fourth quarter-2006 (4Q'06). Since their respective closes, each deal has experienced less than a 15% change in collateral, the information presented in the report is as of close. The CREL Surveyor Snapshots will be updated after a 15% change in collateral composition. The release of these CREL Surveyor Snapshots brings the total released to ten. Previously released snapshots include: --FMC Real Estate CDO 2005-1, Ltd.; --Gramercy Real Estate CDO 2005-1, Ltd.; --Capmark VII-CRE, Ltd; --N-Star REL CDO VI, Ltd./LLC; --CBRE Realty Finance CDO 2006-1, Ltd. The CREL Surveyor Snapshot provides a comparison to covenants and key deal performance statistics from the CREL Surveyor. The CREL Surveyor is a pipeline management tool issuers of Fitch-rated CREL CDOs use, in conjunction with Fitch's CRE CDO Surveillance team, to monitor migration to their covenants. In addition, the CREL Surveyor Snapshot provides investors with a narrative on the performance of the deal, the top 10 assets in the pool, and Fitch loans of concern. Fitch has a surveillance team of four professionals dedicated to CRE CDOs. The surveillance team will be updating the CREL Surveyor Snapshots at least semi-annually or whenever there is a 15% changeover (programming) changeover - The time when a new system has been tested successfully and replaces the old system. in collateral composition. The CREL Surveyor Snapshots will continue to evolve. Fitch welcomes investor feedback. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.derivativefitch.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. Fitch means Fitch, Inc., 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. , Ltd. and their subsidiaries including Derivative Fitch, Inc. and Derivative Fitch Ltd. and any successor or successors thereto. |
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