Monday, December 19, 2005

Fitch Rates Securitization of $767 Million in Single Tenant Loans

Business Wire - December 15, 2005

Fitch Ratings has rated GE Business Loan Trust 2005-2, a securitization of 341 business loans made to 301 borrowers. The loans were originated by GE Commercial Finance Business Property Corporation (GECF) and the Small Business Finance (SBF) lending division of General Electric Capital Corporation (GECC).

The $767 million underlying collateral pool consists of approximately $500 million (65.2%) of conventional business loans originated by GECF and approximately $267 million (34.8%) of SBA 504 loans originated by SBF. The loans are secured by first liens on owner-occupied or single tenant retail, office, industrial, or other commercial real estate. The pool is diversified geographically, with loans from 41 states.

This transaction represents the sixth term securitization of loans originated by the GECF and SBF business units. Sphere: Related Content

No comments:

Wikinvest Wire