GMAC Commercial Mtge Asset Corp. Ser 2000-FL-B Rtd By Fitch.Business Editors NEW YORK--(BUSINESS WIRE)--June 30, 2000 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 Asset Corp.'s 2000- FL-B, are rated by Fitch as follows: --$88,357,764 class A, 'AAA'; --$7,248,098 class B, 'A'; --$11,735,016 class C, 'BBB'; --$3,451,475 class D, 'BBB-'; --$8,628,688 class E, 'BB'; --$9,318,983 class F, 'B'. The classes referenced above are privately placed pursuant to Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. of the Securities Act of 1933. The rating for the class A certificates relies on an assessment of an insurance policy issued by MBIA MBIA Montana Building Industry Association MBIA Municipal Bond Insurance Association MBIA Michigan Boating Industries Association MBIA Municipal Bond Investors Assurance MBIA Massachusetts Brain Injury Association MBIA Maryland Business Incubation Association Insurance Corporation (currently rated 'AAA' by Fitch). If the rating of MBIA Insurance Corp. is downgraded, qualified or withdrawn, there may be a corresponding downgrade Downgrade A negative change in the rating of a security. Notes: For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. , qualification or withdrawal of the rating of the class A certificates. The ratings do not address the likelihood, timing or frequency of receipt of prepayments Prepayments Payments made in excess of scheduled mortgage principal repayments. (including premiums, penalties and yield maintenance), Additional Interest (as defined in the Pooling and Servicing Agreement) after the expiration of the Additional Interest Cap Agreement on June 1, 2005 or any earlier termination of the Additional Interest Cap Agreement in accordance with its terms, or default interest on the collateral. The certificates represent beneficial ownership interest in the trust, primary assets of which are 23 floating rate loans having an aggregate principal balance of approximately $138,059,007, as of the cutoff date. (For a detailed description of Fitch's rating analysis, please see the Presale Report titled 'GMAC Commercial Mortgage Asset Corp., Series 2000-FL-B', dated June 27, 2000, available on Fitch's Web site at 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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