Based on Fitch's improved projections of total principal and interest proceeds to be paid to the class A-2
notes, the DR rating on the notes has been revised to 'DR2' from 'DR4'.
The class B notes would receive payments on their principal only after the class A-2
notes are paid in full.
Distributions on Classes I S-1, I A-1, I A-2
and I B-1 will be made from payments received on the mortgage loans in Group I.
Distributions of interest from mortgage loans in loan group 1 will be paid sequentially to the Class A-1, Class A-2
(to the extent not paid by loan group 2), Class B, Class C, Class D, Class E, Class F and Class G certificates up to the stated certificate rate for each class.
Distributions on Classes II S, II A-1, II A-2
, and II B-1 will be made from payments received on the mortgage loans in Group II.
The 2006 series A-2
bonds, are expected to be sold through negotiation on or about March 23, 2006.
In response to the rights offering, Occam received subscriptions to purchase 343,741 shares of Series A-2
Preferred Stock for an aggregate purchase price of $3,437,410.
Each subscription right will entitle the stockholder to subscribe for and purchase one share of Series A-2
preferred stock for each 109 shares of common stock held on the record date.
62,218,890 class A-2
notes upgraded to 'A+' from 'BB-';
The class A-2
notes are wrapped by MBIA Insurance Corp.
The class A-1 overcollateralization (OC) ratio, class A-2
OC ratio and class B OC ratio have decreased from 112.
JSDC), courts facility lease revenue bonds (New York City-Jay Street Project), consisting of $90,000,000 fiscal 2001 series A-1 bonds and $45,000,000 fiscal 2001 series A-2
bonds, and will affirm the rating assigned to JSDC's $45,000,000 fiscal 2001 series A-3 bonds.