Fitch Ratings Affirms 10 RMBS Classes From 5 SASI Securitizations.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 16, 2003 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. has affirmed ten classes from the following five Securitized securitized Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds. Assets Sales, Inc. (SASI (Shugart Associates Systems Interface) A peripheral interface developed by Shugart in 1981 that evolved into the ANSI SCSI standard in 1986. It was renamed SCSI because ANSI does not allow corporate names in its standards. See SCSI. ) residential mortgage-backed certificates, as follows: Securitized Assets Sales, Inc., 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 1994-1 -- Class A 'AAA'. Securitized Assets Sales, Inc., mortgage pass-through certificates, series 1994-2 -- Class A 'AAA'. Securitized Assets Sales, Inc., mortgage pass-through certificates, series 1994-4 -- Class A 'AAA'; -- Class M 'AA'. Securitized Assets Sales, Inc., mortgage pass-through certificates, series 1994-5 -- Class A 'AAA'. Securitized Assets Sales, Inc., mortgage pass-through certificates, series 1994-A -- Class A 'AAA'; -- Class M 'AA'; -- Class B1 'A'; -- Class B2 'BBB'; -- Class B3 'BB'. The affirmations are due to credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing consistent with future loss expectations. Further information regarding current delinquency, loss and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'. |
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