Fitch Ratings Affirms Tribeca Mortgage Fund I $220MM Notes.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 2, 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. affirms Tribeca Mortgage Fund I's and Tribeca CBO CBO See: Collateralized Bond Obligation. Delaware Corporation's (Tribeca) class A notes as follows: -- $170 million floating-rate senior class A-1 notes 'AA/F1+'; -- $50 million floating-rate senior subordinated class A-2 notes 'BBB'. The ratings reflect the structure of the transaction, the high quality and liquidity of Tribeca's assets, and the 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 provided by overcollateralization (OC). The ratings also reflect the quality of the investment policies, restrictions and guidelines of Tribeca. The ratings address the likelihood that noteholders will receive timely interest and principal payments according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the terms of the issue. Fitch's ratings process included a review of the issuer, an assessment as to the credit quality and market risk of the collateral securities COLLATERAL SECURITY, contracts. A separate obligation attached to another contract, to guaranty its performance. By this term is also meant the transfer of property or of other contracts to insure the performance of a principal engagement. , and the portfolio management capabilities of the investment manager. |
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