Cityscape Financial (CTYS) Message Board

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Non-Tech : Cityscape Financial (CTYS)

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To: CoffeePot who wrote (2460)	5/24/1998 11:57:00 PM
From: Zeev Hed	Read Replies (1) of 2544

They will have losses because they have more debt than assets and their underwriting and mortgage packaging profits do not cover their interest expenses. Furthermore, there is quite a possibility that because of the downgrade in their credit rating their access to capital market (where they repackage their mortgages) will be closed. Zeev

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