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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (1428)	10/26/1997 3:21:00 AM
From: Rational	Respond to of 2544

Zeev: BS would have lent less than 50 mil against the Warehousing facility. It was not free money for CTYS to withdraw. BS gave this facility to originate loans, create liquidity, etc. * If you are willing to guess that CTYS has very little equity, then BS is in a mission to get their money first before CTYS goes to CH 11. * But, if CTYS is expected (by them) to be viable and profitable, their strategy will be different, i.e., to get some equity value in the shares. * We do not have the true information. Sankar

To: Zeev Hed who wrote (1428)	10/27/1997 10:00:00 AM
From: Ray Dopkins	Read Replies (1) \| Respond to of 2544

Wednesday October 22 1:14 PM EDT NEW YORK, Oct. 22 /PRNewswire/ -- Standard & Poor's today lowered Cityscape Financial Corp.'s senior debt and long-term counterparty credit ratings to single-'B'-minus from single-'B'. Additionally, Standard & Poor's placed its ratings of Cityscape Financial Corp. on CreditWatch with developing implications. biz.yahoo.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I'm waiting for a call from C.S's fixed income dept. for a quote on the bonds. I don't like the sounds of "developing implications." Ray