NEW YORK, Feb. 19 /PRNewswire/ -- Standard & Poor's today affirmed its
triple-'A' ratings on Fleet Mortgage Securities Inc.'s REMIC cash flow
certificates series 1993-1 (see list).
The affirmations reflect actual and projected credit support percentages
that adequately support the current ratings, no delinquencies, and no reported
losses. In addition, the transaction has been seasoned more than eight years
and has paid down to approximately 19% of its original principal balance.
Credit support for this transaction is provided by a pool insurance policy
from General Electric Mortgage Insurance Corp., which has a triple-'A'
financial strength rating. The collateral consists of conventional,
fixed-rate mortgage loans, which are secured by first liens on one- to
four-family residential properties.
RATINGS AFFIRMED
Fleet Mortgage Securities Inc.
REMIC cash flow certificates series 1993-1
Series Class Rating
1993-1 C-Z, D, IO, PO AAA
SOURCE Standard & Poor's
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Related links:
http://www.standardandpoors.com
CONTACT:
Lal Mahabir, +1-212-438-2395, or Ernestine
Warner, +1-212-438-2633, both of Standard & Poor's Ratings
Services, New York
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