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ABSnet™ to distribute ABS information
from Duff & Phelps Credit Rating Co.
Internet-based service offers "one stop"
access to data, analytics, and content from leading ABS industry
sources
For Immediate Release
Contact:
Paul Arvidson
Lewtan Technologies, Inc®
781-672-1216
parvidson@lewtan.com
www.lewtan.com
March 15, 1999, Waltham, MA - Lewtan
Technologies ("Lewtan"), today announced an agreement
to distribute asset-backed research and other content from Duff
& Phelps Credit Rating Co. (DCR) through ABSNet, the first internet
service exclusively devoted to the securitization industry. Developed
by Lewtan Technologies with a consortium of leading organizations
within the securitization industry, ABSNet gives ABS professionals
fast and easy access to in-depth deal performance data and powerful
analytics. In addition, ABSNet consolidates news, ratings, and research
from leading sources of ABS information, providing ABS professionals
with a "one stop" internet destination for information
on asset-backed securities.
The participation of Duff & Phelps Credit
Rating Co. in ABSNet signifies the support within the ABS community
for a dedicated ABS industry resource and data infrastructure. DCR,
a leading international rating agency, is the third rating agency,
after Standard & Poor’s and Fitch IBCA, to distribute content
via ABSNet. Under the agreement, Lewtan will make Duff & Phelps’
pre-sale reports, deal analyses, research, ratings, and ratings
actions available to ABSnet™ subscribers.
Stuart Lewtan, President of Lewtan Technologies,
comments, "It’s becoming increasingly clear that building
an ABS infrastructure is something that has the confidence and support
of the major industry players. We welcome DCR’s participation
in this invaluable industry channel."
Norman Last, senior vice president in charge
of asset backed securities at Duff & Phelps Credit Rating Co,
states "We’re pleased to see the way ABSNet is responding
to the need for better and more centralized access to information
in the asset-backed securities marketplace. This need has been particularly
compelling in our areas of strength – the non-commodity sectors
of the market. We’re delighted to be participating in this
effort to ensure better, more timely flow of information in the
sectors we serve."
Stuart Lewtan adds, "With their excellent
coverage of international securitizations, DCR’s ABS content
is a perfect complement to the Reuters international news and the
U.S.-based content currently provided on ABSNet. We see the addition
of DCR’s content to ABSNet as a major benefit to the ABS community."
Duff & Phelps Credit Rating Co. serves the
global marketplace with a unique blend of local-market expertise
and global resources. The company has more than 30 local-market
offices around the world with skilled rating professionals whose
understanding of local customers and financial conditions enhances
the value of DCR’s ratings and research. DCR’s Global
Rating Network has rated some 100,000 issues originated in more
than 50 countries.
About Lewtan Technologies, Inc.
Lewtan Technologies, Inc.® is the leading
provider of software, data and analytics to the global securitization
industry. Founded in 1986, Lewtan serves over 200 securitization
customers worldwide. In 1999, Lewtan, working with an industry consortium
including Standard "&" Poor's, Fitch, Bank One and
others, launched ABSNet (www.absnet.net).
ABSNet is now the leading Internet source of structured finance
news, data, research and analytics, with over 7,000 users in more
than 50 countries. Lewtan offers industry participants "Powered
by ABSNet" solutions that leverage ABSNet's web infrastructure,
database and user base. Solutions benefit issuers, CDO collateral
managers, dealers, investors, credit enhancers, trustees, rating
agencies and asset-backed CP conduit sponsors.
Lewtan continues to seek participants in its
ABSnet™ Partners program. Interested parties may contact Jay
Lebed at 781-895-9800 ext. 1130.
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