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BEAR STEARNS SECURED INVESTORS TRUST 1993-8 $158,000,000 COLLATERALIZED MORTGAGE OBLIGATIONS, SERIES 1993-8 RATED BY DUFF & PHELPS

 NEW YORK, Dec. 1 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has rated the following classes of Collateralized Mortgage Obligations, Series 1993-8 issued by Bear Stearns Secured Investors Trust 1993-8 and underwritten by Bear, Stearns & Co.:
 Class Amount Rate D&P Rating
 F-1 $158,000,000 1-Month LIBOR +2.25% AAA (Cash Flow)
 Class F-1 is entitled to monthly payments on the collateral (described below) less fees of the trust. The principal payments on the collateral are allocated first to pay principal on the class. The interest payments on the collateral together with any remaining principal payments are then applied to pay 1) current interest on the class, 2) principal on the class, 3) deferred interest on the class, and 4) interest on deferred interest. Holders of the trust certificates, which represent the residual interest in the trust, may also terminate the trust on or after the earlier of May 25, 2006, and the date upon which the principal balance of Class F-1 falls below $39,500,000, in which case the Class F-1 bondholders must be paid their outstanding principal amount but not any accrued and unpaid interest.
 The rating of the bonds reflects D&P's opinion that the Class F-1 bondholders will receive at least $158,000,000 of payments by the class maturity date. The rating does not address either the right of bondholders to receive payments on the bonds in excess of an amount equal to the aggregate principal amount of the bonds or whether bondholders will suffer lower than anticipated yields. In addition, the ratings do not address whether the payments on the bonds will take the form of either principal or interest.
 The bonds were issued pursuant to an indenture and indenture supplement, each dated as of December 1, 1993, between Bear Stearns Secured Investors Trust 1993-8, as issuer, and State Street Bank and Trust, as indenture trustee. The bonds are secured by collateral consisting of 17 different classes of multiclass REMIC and stripped mortgage-backed securities issued by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Association (Freddie Mac). The securities, with an aggregate principal balance in excess of $122 million, generally consist of variations of principal- only, interest-only, and inverse floating-rate securities.
 The analysis for the ratings primarily focused on prepayments of the mortgage pools underlying the REMIC securities and the subsequent effect on bond cash flows.
 -0- 12/1/93
 /CONTACT: Henry W. Hayssen of Duff & Phelps Credit Rating Co., 212-908-0209/


CO: Bear Stearns Secured Investors Trust 1993-8 ST: Illinois IN: FIN SU: RTG

WB -- NY123 -- 9520 12/01/93 18:03 EST
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Date:Dec 1, 1993
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