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


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