S&P Lwrs Rtgs on Greenwich Cap Accept Ser 2001-ZC-1.
Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's
Feb. 20, 2002-- Standard & Poor's today lowered its rating on Greenwich Capital Acceptance Inc.'s commercial mortgage pass-through certificates guaranteed commercial mortgage loan (Centre/Shore Club Hotel)
The lowered rating reflects this transaction's dependence on the surety and guarantee of ZC Specialty Insurance Co. (ZC) and Centre Reinsurance (U.S.) Ltd. (Centre). The ratings of ZC and Centre were lowered to double-'A'-minus from double-'A' on Feb. 15, 2002.
The Greenwich Capital Acceptance Inc. certificates represent undivided interests in a single guaranteed commercial mortgage loan secured by a mortgage on the Shore Club Hotel in Miami Beach, Fla. Timely payment of interest and principal under the mortgage loan is 100% guaranteed by ZC, acting as surety, whose guarantee obligations are in turn guaranteed by Centre.
RATINGS LOWERED
Greenwich Capital Acceptance Inc.
Commercial pass-thru certs series 2001-ZC-1
Rating
Class To From
A AA- AA
IO AA- AA
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