Fitch Tokyo Assigns Tokyo Servicer `CSS3' As Special Servicer.Business Editors NEW YORK--(BUSINESS WIRE)--May 9, 2001 Fitch assigns Tokyo Servicer Inc.(TSI TSI Total Solar Irradiance (sum solar light in energy per unit of time) TSI Trading Standards Institute (UK) TSI Transportation Safety Institute (US DOT) ) a 'CSS3' rating as special servicer. The special servicer rating is based on TSI's ability to service commercial mortgage loans and meet investor reporting requirements. This is the second special servicer rating Fitch assigns in Japan. In determining the `CSS (1) See Cascading Style Sheets. (2) (Content Scrambling System) The copy protection system applied to DVDs, which uses a 40-bit key to encrypt the movie. 3' rating Fitch identified TSI's strengths and also some concerns relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc their business. TSI's strengths include the experience of their asset managers in the related industries, high quality loan administration, comprehensive policies & procedures, and extensive training programs. Since its inception, the company has managed assets in excess of 1,038 billion Japanese yen “Yen” redirects here. For the other use, see Yen (disambiguation). “JPY” redirects here. For the Australian singer with the same moniker, see John Paul Young. . Some concerns include their reliance on seconded employees, and the short tenure of professionals with the young company. However, these concerns are mitigated by TSI's extensive track record in servicing for third-party investors and the asset managers' substantial experience, gained prior to joining the company, in the mortgage loan servicing business. TSI, formed in 1999, was licensed by Ministry of Justice in Japan to workout assets for several domestic and overseas investors. TSI is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of TORICO Inc., a property investment advisory company in Japan. Fitch rates primary servicers, master servicers, and special servicers in Japan on a scale of one through five, with one being the highest rating; each servicer type rating has a prefix of CPS, CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. , or CSS, respectively. For more details, refer to the report titled 'Japanese Commercial Mortgage Servicer Rating Criteria', dated Feb. 20, 2001, available on Fitch's web sites at 'www.fitchratings.com' in English and `www.fitchratings.co.jp' in Japanese. The report on TSI in English and Japanese will be available shortly. For a copy of the report to be titled `Tokyo Servicer Inc.', please visit Fitch web sites or contact Market Services at 1-800-853-4824 in 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 or Fitch's Tokyo office at +81-3- 3288-2628 in Japan. |
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