Printer Friendly

CAPSTEAD SECURITIES CORP. IV CMO SERIES 1993-I RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 2 /PRNewswire/ -- Capstead Securities Corp. IV's $200 million Collateralized Mortgage Obligations Series 1993-I are rated 'AAA' by Fitch. The rating reflects the integrity of the legal and financial structures as well as capabilities of Texas Commerce Bank, N.A. as trustee of the bonds.
 The bonds will be secured by Guaranteed Mortgage Pass-Through Certificates issued and guaranteed as to full and timely payment of principal and interest by the Federal National Mortgage Association. The certificates have a pass-through rate of 8.0 percent, a balance of approximately $199,941,000 and a weighted average maturity of approximately 28.9 years. Fitch believes that cash flow from the certificates and reinvestment earnings thereon will be sufficient to cover principal and interest payments on the bonds as well as fees associated with the ongoing administration of the issue.
 Capstead Securities Corp. IV, the issuer, is a wholly-owned limited purpose finance corporation of Capstead Mortgage Corp. (CMC). The issuer purchased the certificates from CMC in exchange for the proceeds from the sale of the bonds. A non-consolidation opinion was issued regarding the consolidation of the assets of the issuer and CMC in the event of bankruptcy. The issuer will not elect REMIC status for federal income tax purposes.
 -0- 2/2/93
 /CONTACT: Michele J. Loesch, 212-908-0686, or Alexander Zabik, 212-908-0634, both of Fitch/


CO: Capstead Securities Corp. IV ST: IN: FIN SU: RTG

KD -- NY041 -- 1772 02/02/93 10:51 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 2, 1993
Words:243
Previous Article:CIBA HONORED FOR COMMITMENT TO EDUCATION
Next Article:PARALLEL PETROLEUM ANNOUNCES 20 PERCENT INCREASE IN VOLUME OF PROVED OIL AND GAS RESERVES


Related Articles
CAPSTEAD SECURITIES CMO SERIES 1991-VIII RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
CAPSTEAD SECURITIES IV $350 MILLION CMO SERIES 1992-I 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
CAPSTEAD SECURITIES CORP. IV $125 MILLION SERIES 1992-III 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
CAPSTEAD SECURITIES IV CMO SERIES 1992-V RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
CORRECTION TO FITCH RATES CAPSTEAD SECURITIES IV CMO SERIES 1992-IX
CAPSTEAD SECURITIES CORP. IV CMO SERIES 1992-VIII RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
CAPSTEAD SECURITIES CORP. IV CMO SERIES 1992-XI RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
CAPSTEAD SECURITIES CORP. IV CMO SERIES 1992-XII RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
PMI-INSURED "SUPER-SENIOR" MORTGAGE DEBT AFFIRMED, OFF FITCHALERT -- FITCH FINANCIAL WIRE --
CAPSTEAD SECURITIES CORP. SERIES 1992-XIII CLASS XIII-M OFF FITCHALERT -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters