Fitch Ratings Affirms 80 Classes from 10 Morgan Stanley RMBS Issues.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. has taken rating actions on the following Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. RMBS RMBS Residential Mortgage-Backed SecuritiesRMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities issues: Morgan Stanley Dean Witter Dean Witter may refer to:
-- Class A-1 affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class A-3 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB'; -- Class B-2 affirmed at 'BBB-'. Morgan Stanley Dean Witter Capital I Inc. Trust, Series 2003-NC2: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class A-3 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A+'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB'; -- Class B-2 affirmed at 'BBB-'. Morgan Stanley Dean Witter Capital I Inc. Trust, Series 2003-NC3: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class A-3 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A+'; -- Class M-3 affirmed at 'A'; -- Class B-1 affirmed at 'A-'; -- Class B-2 affirmed at 'BBB+'; -- Class B-3 affirmed at 'BBB'. Morgan Stanley Capital I Inc. Trust, Series 2003-NC4: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class A-4 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB+'; -- Class B-2 affirmed at 'BBB'; -- Class B-3 affirmed at 'BBB-'. Morgan Stanley ABS (Automatic Backup System) See backup program. Capital I Inc. Trust, Series 2003-NC5: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class A-3 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB+'; -- Class B-2 affirmed at 'BBB'; -- Class B-3 affirmed at 'BBB-'. Morgan Stanley ABS Capital I Inc. Trust, Series 2003-NC6: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB+'; -- Class B-2 affirmed at 'BBB'; -- Class B-3 affirmed at 'BBB-'. Morgan Stanley ABS Capital I Inc. Trust, Series 2003-NC7: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB+'; -- Class B-2 affirmed at 'BBB'; -- Class B-3 affirmed at 'BBB-'. Morgan Stanley ABS Capital I Inc. Trust, Series 2003-NC8: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB+'; -- Class B-2 affirmed at 'BBB'; -- Class B-3 affirmed at 'BBB-'. Morgan Stanley ABS Capital I Inc. Trust, Series 2003-NC9: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class A-3 affirmed at 'AAA'; -- Class B affirmed at 'BBB-'. Morgan Stanley ABS Capital I Inc. Trust, Series 2003-NC10: -- Class A-1 affirmed at 'AAA'; -- Class A-2 affirmed at 'AAA'; -- Class A-3 affirmed at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'A-'; -- Class B-1 affirmed at 'BBB+'; -- Class B-2 affirmed at 'BBB'; -- Class B-3 affirmed at 'BBB-'. All of the mortgage loans in the aforementioned transactions were either originated or acquired by New Century Mortgage Corporation. The mortgage loans consist of fixed- and adjustable-rate sub-prime mortgage loans and are secured by first-lien and second-lien mortgages or deeds of trust on residential properties. As of the February 2005 distribution date, the transactions detailed above are seasoned from a range of 16 to 25 months, and the pool factors (current mortgage loan principal outstanding as a percentage of the initial pool) range from approximately 28% to 51%. 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 and affect approximately $3.54 billion of outstanding certificates as detailed above. Additionally, the affirmations on class A-2 in series 2003-NC1, class A-2 in series 2003-NC2, and class A-2 in series 2003-NC5 reflect the unconditional HEIR, UNCONDITIONAL. A term used in the civil law, adopted by the Civil Code of Louisiana. Unconditional heirs are those who inherit without any reservation, or without making an inventory, whether their acceptance be express or tacit. Civ. Code of Lo. art. 878. UNCONDITIONAL. and irrevocable Unable to cancel or recall; that which is unalterable or irreversible. IRREVOCABLE. That which cannot be revoked. 2. A will may at all times be revoked by the same person who made it, he having a disposing mind; but the moment the testator is financial guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. insurance policy issued by Financial Security Assurance Inc. (FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) ), whose insurer financial strength is rated 'AAA' by Fitch. Fitch will continue to closely monitor these transactions. Further information regarding current delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. , loss, and credit enhancement statistics is available on the Fitch Ratings website at www.fitchratings.com. |
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