Fitch Ratings Affirms SASCO Series 1995-C4.Business Editors CHICAGO--(BUSINESS WIRE)--July 3, 2003 Structured Asset Securities Corp.'s (SASCO SASCO ST (Singapore Technologies) Aviation Services Co. SASCO South African Students Congress SASCO Sudanese Aeronautical Services Co. Ltd ) pass-through certificates, series 1995-C4, $1.3 million class A-2, $1 million class E and $11.7 million class F are affirmed at 'AAA' by 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. . Fitch does not rate the $11.7 million class G or the $8.8 million class H certificates. Classes A1A, A-1B, B, C and D have all been paid in full. The rating actions follow Fitch's annual review of the transaction, which closed in November 1995. Of the original 106 loans in the pool, thirteen remain outstanding. There are currently no delinquent loans. GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Mortgage Corp., the master servicer, collected year-end (YE) 2002 financials for 67% of the pool balance. Based on the information provided the resulting YE 2002 weighted average debt service coverage ratio The debt service coverage ratio (DSCR), or debt service ratio, is the ratio of net operating income to debt payments on a piece of investment real estate. It is a popular benchmark used in the measurement of an income-producing property’s ability to produce (WADSCR WADSCR Weighted Average Debt Service Coverage Ratio ) is 1.42 times (x) compared to 1.36x at issuance for the same loans. Currently, one loan (3.6%) is in special servicing. The loan is secured by a hotel property in Norcross, GA. The loan is current; however, the borrower has requested an additional six months extension on his forbearance to allow him more time to refinance the loan. Fitch will continue to monitor this transaction, as surveillance is ongoing. |
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