S&P Assigns Ratings to AMMS Tokyo Estate's CMBS.Business Editors TOKYO--(BUSINESS WIRE)--Aug. 27, 2002 Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. announced today that it had assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. its ratings to AMMS AMMS Automated Maintenance Management System AMMS Australian Microscopy and Microanalysis Society AMMS Advanced Microwave Moisture Sounder AMMS Asthma Management Model System AMMS Advanced Materials Management System AMMS Acquisition Milestone Management System Tokyo Estate's JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3.4 billion Medium-Term Notes Medium-term note (MTN) A corporate debt instrument that is continuously offered to investors over a period of time by an agent of the issuer. Investors can select from maturity bands of: 9 months to 1 year, more than 1 year to 18 months, more than 18 months to 2 years, etc. Series 2002-1, 2002-2, and 2002-3 due July 2009 (see list below). The notes are ultimately backed by the beneficial interests in two business hotel/residential properties purchased by AMMS under a trust created with SG Private Banking (Japan) Ltd. The ratings address the full and timely payment of interest and the ultimate full repayment of principal by the transaction's legal final maturity of July 2009. The ratings are based on: -- The quality of the properties that ultimately secure the rated notes; -- The soundness of the legal structure of the transaction; and -- The credit support provided by overcollateralization and the subordinated notes. RATINGS ASSIGNED AMMS Tokyo Estate's JPY3.4 billion Medium-Term Notes Series 2002-1, 2002-2, and 2002-3 due July 2009 Issue Amount Rating Series 2002-1 Floating Rate Notes JPY1.7 billion AA Series 2002-2 Fixed Rate Notes JPY1.0 billion AA Series 2002-3 Fixed Rate Notes JPY0.7 billion BBB Copyright 2002, Standard & Poor's Ratings Services |
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