Fitch Affirms J.P. Morgan 1997-C4.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 -- 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 J.P. Morgan Commercial Mortgage Finance Corp.'s 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 1997-C4, as follows: --Interest-only class X at 'AAA'; --$12.2 million class G at 'BB+'. Fitch does not rate the $9.5 million class NR certificates. Classes A-1, A-2, A-3, B, C, D, E and F have been paid in full. As of the January 2007 distribution date, the pool's aggregate balance has been reduced by 94.7% to $21.7 million from $407 million at issuance. Twelve loans remain in the pool. Two loans (11%) are currently in special servicing. The larger loan in special servicing (6.6%) is secured by a 49,220 square foot shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into in Freeport, IL. The loan was transferred to the special servicer after the borrower failed to pay the loan off at maturity. The special servicer is currently negotiating a workout with the borrower. Any losses will be absorbed by the class NR certificates. The second loan in special servicing (4.4%) is secured by a 99-unit multifamily property located in Huntsville, TX, and is 90 days delinquent. 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.fitchratings.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. |
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