Cityscape Financial (CTYS) Message Board

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Non-Tech : Cityscape Financial (CTYS)

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To: Ploni who wrote (1662)	11/15/1997 9:03:00 PM
From: Rational	Read Replies (1) of 2544

Charles: I think I now understand why CTYS was falling like crazy: it was (IMO) a serious threat to the TRUST due to the non-performing loans. The management appears (to me) sleazy because they did not say in the CC if they had to increase the over-collateralization requirements to obtain a reaffirmation of the TRUST rating and if the charge was for that purpose. It seems obvious to me now that it was. Big investors did not respond on Friday because in the CC many asked questions about the residual part of the non-performing loans (if any) and CTYS refused to answer. IMHO, the rating affirmation will be misinterpreted by small investors as good news, whereas it has no new information for equityholders. I am staying away. The price fell from the peak of 2 11/32 to 1 3/4 on Friday. Sankar

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