Fitch Places NASC 1996-MDV Classes A2 - A5 on Rating Watch Positive.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 22, 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. places the following classes of Nomura 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.'s (NASC NASC Norwich Area Schools Consortium (UK) NASC Nottingham Arabidopsis Stock Centre NASC National Animal Supplement Council NASC North American Solar Challenge NASC Northwest Association of Schools and Colleges ) commercial 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 1996-MDV, on Rating Watch Positive following the recent defeasance of two of the four largest loans (35.2%) in the pool: -- $45 million class A-2 'AA+'; -- $52.4 million class A-3 'A+'; -- $48.7 million class A-4 'BBB'; -- $11.2 million class A-5 'BBB-'. The Crescent Loan (25.1%) and the Bay Plaza Loan (10.1%) were recently defeased. The classes will remain on Rating Watch Positive pending receipt and review of the year-end (YE) 2003 performance information relating to the seven remaining loans in the pool. |
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