Fitch Affirms 1 & Upgrades 5 Classes of Bear Stearns ARM Trust 2000-2.Business Editors NEW YORK--(BUSINESS WIRE)--June 16, 2003 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 taken rating actions on six classes of Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. ARM Trust mortgage-backed certificates, series 2000-2. Bear Stearns ARM 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 , series 2000-2: -- Class A affirmed at 'AAA'; -- Class B-1 upgraded to 'AA+' from 'AA'; -- Class B-2 upgraded to 'AA-' from 'A'; -- Class B-3 upgraded to 'A-' from 'BBB'; -- Class B-4 upgraded to 'BBB-' from 'BB'; -- Class B-5 upgraded to 'BB' from 'B'. These rating actions are being taken as a result of low delinquencies and losses, as well as increased credit support. Further information regarding current delinquency, loss and 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 statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion