Fitch Upgr JP Morgan Primary Svcr Rtg/Issues Master Servicing Rtg.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 21, 2000 Fitch upgrades JP Morgan Mortgage Capital Inc.'s (JPMMC) primary servicer rating to `CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. 2' from 'CPS3' and issues a master servicer rating of `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. 3'. The primary servicer rating reflects the company's ability to effectively service commercial mortgage loans as evidenced by the close working relationship with its borrowers. The master servicer rating reflects the company's ability to effectively oversee and monitor primary servicers, as currently demonstrated through its National Accounts Program. Due to the recently announced merger of Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. and JP Morgan & Co., the future status of the servicing operations is unclear. However, because of the amount of time mergers generally require, JPMMC elected to affirm the primary servicer rating and pursue the master servicer rating at this time. As of June 30, 2000, JP Morgan Mortgage Capital Inc. servicing portfolio comprised 380 loans totaling $2.6 billion, of which $227 million is CMBS CMBS See: Commercial Mortgage Backed Securities . Fitch rates primary servicers, master servicers, and special servicers on a scale of one - four, with one being the highest rating; each servicer type rating will have a prefix of CPS, CMS, and 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. , respectively. For more details, refer to the report titled `Commercial Mortgage Servicer Criteria', dated Oct. 28, 1999, available on Fitch's Web site `www.fitchratings.com'. Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered 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 and London with a major office in Chicago, Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance Markets worldwide. |
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