M-2 has to make the slide because if D-2
(the near man) made it, the attackman behind the goal (X) would be able to sneak around on a back-door move.
The ratings on the class C-1, C-2, D-1, D-2
, E-1 and E-2 notes address the ultimate payment of interest and ultimate payment of principal.
The ratings of the class C, D-1 and D-2
notes address the likelihood that investors will receive ultimate interest payments, as per the governing documents, as well as the aggregate outstanding amount of principal by the stated maturity date.
The ratings of the class C-1, C-2, D-1, D-2
, E-1 and E-2 notes address the likelihood that investors will receive ultimate payment of scheduled and compensating interest and the ultimate repayment of principal.
11,000,000 class D-2
fourth priority secured fixed-rate notes
Equitable Life Assurance Society of US, Sep Acct #174 collateralized fixed and floating-rate notes $109 million class A-1 and $148 million class A-2 are affirmed at 'AAA', $73 million class B-1 is affirmed at 'AA', $73 million class C-1 is affirmed at 'A', and $45 million class D-1 and $37 million class D-2
are affirmed at 'BBB' by Fitch.
17, 2002--Standard & Poor's Ratings Services today lowered its ratings on the class D-1 and class D-2
notes issued by KBC Orion Commercial Loan Master Trust's series 1999-1 to 'D' from triple-'C'-minus.
C-BASS, the established leader in servicing and securitizing credit sensitive residential mortgages, today announced that both Fitch and Standard & Poor's have upgraded the class B, C-1, C-2, D-1, D-2
and E notes of C-BASS CBO II LTD (CBO).
20% for the class D-1 and D-2
notes and a break-even loss rate of 55.
Standard & Poor's does not consider that any rating action is warranted at this time, although the D-1 and D-2
notes will remain on CreditWatch with negative implications.