Fitch Ratings Affirms SL Commercial Mortgage Trust 1997-C1.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 -- SL Commercial Mortgage Trust's 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 1997-C1, are 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. as follows: -- Interest-only class X at 'AAA'; -- $3.7 million class D at 'AAA'; -- $2.5 million class E at 'AAA'; -- $20.3 million class F at 'BB+'. The rating affirmations reflect scheduled amortization and stable performance of the transaction. As of the March 2005 distribution date, the pool's certificate balance has decreased 89.5% to $26.5 million from $253.7 million at issuance. Classes A, B, and C have been paid in full. The pool has become more concentrated with only 12 of the original 56 loans remaining. The top five loans account for (54%) of the pool balance. Retail properties make up 57% of the transaction, however are diversified diversified (di·verˑ·s by location. 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) 2003 financials for seven of the remaining 12 loans (45.4%) in the pool. Since issuance, there have been no delinquencies or specially serviced loans in the transaction. |
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