Fitch Downgrades Class H of Morgan Stanley 1997-XL1.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. downgrades Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Capital I Inc., series 1997-XL1, as follows: -- $22.6 million class H to 'CC' from 'CCC'. In addition, Fitch affirms the following classes: -- $16.6 million class A-1 at 'AAA'; -- $64 million class A-2 at 'AAA'; -- $226.2 million class A-3 at 'AAA'; -- Interest-only (IO) class X at 'AAA'; -- $22.6 million class B at 'AAA'; -- $22.6 million class C at 'AAA'; -- $45.3 million class D at 'AA'; -- $45.3 million class E at 'BBB+'; -- $41.5 million class F at 'BBB-'; -- $26.4 million class G at 'B'. The downgrade is the due to anticipated losses resulting from the discounted payoff (DPO DPO Direct Public Offering (finance/investment) DPO Direct Public Offering DPO District Police Officer (Pakistan) DPO Days Payables Outstanding DPO Document Process Outsourcing DPO Days Past Ovulation ) of the Westgate Mall loan which is expected in February 2005. The DPO at $25.5 million will result in an approximate loss of $14 million to the trust. |
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