Fitch Affirms Deals With ORIX as Special Servicer.Business Editors NEW YORK--(BUSINESS WIRE)--March 9, 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. affirms deals where ORIX Capital Markets (ORIX) is named special servicer, following Fitch's downgrade of ORIX's special servicer rating to 'CSS3'. Fitch has reviewed the transactions listed below and determined that there is no negative impact resulting from the downgrade. The multiborrower deals range in origination years from 1995 through 2000 and as a result have benefited from amortization. The single asset deals continue to perform as expected. -- 1211 Avenue of the Americas Trust, Series 2000-1211 -- Asset Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. Corp 1997-D5 -- FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). 1996-C1 -- GS Mortgage Securities II 2001-LIB (One Liberty Plaza One Liberty Plaza is a skyscraper in lower Manhattan, New York, which resides at the location of the former Singer Building (in 1968, the second tallest building to be demolished). One Liberty Plaza is currently owned and operated by Brookfield Properties. ) -- ICCMAC 1999-1 -- JP Morgan 1995-C1 -- JP Morgan 1996-C2 -- JP Morgan 1996-C3 -- Mortgage Capital Funding 1998-MC2 -- Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. Mortgage Investors 1999-C1 -- Red Mountain Funding 1995-1 -- Nationsbanc 1995-M2 -- NationsLink Funding Corp. 1999-1 -- NationsLink Funding Corp. 1999-2 -- NationsLink Funding Corp. 1999-SL -- Paine Webber 1999-C1 -- Salomon Brothers 2000-C2 -- Scottsdale Fashion Square Trust, Series I and II |
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