Fitch Ratings Affirms 12 SASCO RMBS Ratings from 2 Securitizations.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 12 classes of Structured Asset Securities Corp. (SASCO SASCO ST (Singapore Technologies) Aviation Services Co. SASCO South African Students Congress SASCO Sudanese Aeronautical Services Co. Ltd ) residential mortgage-backed certificates, as follows: Structured Asset Securities Corp., 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 1999-ALS2: -- Class A affirmed at 'AAA'; -- Class B-1 affirmed at 'AAA'; -- Class B-2 affirmed at 'AA+'; -- Class B-3 affirmed at 'A+'; -- Class B-4 affirmed at 'BB'; -- Class B-5 affirmed at 'B'. Structured Asset Securities Corp., mortgage pass-through certificates, series 2002-10H: -- Class A affirmed at 'AAA'; -- Class B-1 affirmed at 'AA'; -- Class B-2 affirmed at 'A'; -- Class B-3 affirmed at 'BBB'; -- Class B-4 affirmed at 'BB'; -- Class B-5 affirmed at 'B'. Removed from Rating Watch Negative The affirmations reflect 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 web site at 'www.fitchratings.com'. |
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