Fitch Affirms ORIX Real Estate Capital Markets, LLC Special Servicer Ratings.Business Editors NEW YORK--(BUSINESS WIRE)--March 5, 2003 ORIX Capital Markets, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (ORIX) special servicer rating of 'CSS1' is affirmed by 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. based on their consistent ability to specially service and resolve distressed assets securing commercial mortgage-backed securities Commercial mortgage-backed securities (CMBS) are a type of bond commonly issued in American security markets. They are a type of Mortgage-backed security which are backed by mortgages on commercial rather than residential real estate. (CMBS CMBS See: Commercial Mortgage Backed Securities ). The rating reflects ORIX's highly experienced team and commitment to technology. As of Jan. 1, 2003 ORIX was named special servicer on 26 CMBS transactions, totaling $13 billion and representing 4,992 loans. Specially serviced commercial assets total $522 million and consist of 132 loans aggregating $467.9 million and 10 real estate-owned (REO reo Noun NZ a language [Maori] ) assets totaling $55.8 million. Fitch rates commercial mortgage primary, master, and special servicers on a scale of 1 to 4, with 1 being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For more information about Fitch commercial mortgage servicer ratings or rating criteria, refer to the report titled 'Commercial Mortgage Servicer Rating Criteria', dated April 11, 2002 and available on the Fitch Ratings web site at 'www.fitchratings.com'. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion