Fitch Ratings Upgrades Three Classes of GGP Mall Properties Trust 2001-GGP1.CHICAGO -- Fitch upgrades the following classes of GGP GGP GPS (Global Positioning System) Guidance Package GGP Gateway-Gateway Protocol GGP Gotta Go Pee GGP Global Geodynamics Project GGP Globalization, Growth and Poverty (Canada) GGP Gotta Go Potty Mall Properties Trust 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 2001- GGP1: --$871,733 Class C-2 to 'AAA' from 'AA'; --$482,638 Class D-2 to 'AAA' from 'A'; and --$196,185 Class E-2 to 'AAA' from 'BBB-'. In addition, the following class is affirmed: --$2.1 million Class A-2 at 'AAA'. Classes A-1, A-3, B-1, B-3, C-1, C-3, D-1, D-3, E-1, and E-3 are paid in full: The upgrades are due to the repayment of the GGP Wholly Owned and GGP/Homart loans, which paid off in full in August 2006. The remaining collateral for the bonds consists of AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. government securities as a result of earlier defeasance. Fitch expects these bonds to be repaid upon maturity in November 2006. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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