American Mortgage Acceptance Company downgraded to "market perform" - update

07/18/03 - JMP Securities

NEW YORK, July 18 (New Ratings) - Analysts at JMP Securities downgrade American Mortgage Acceptance Company from "market outperform" to "market perform."

In a research note published this morning, the analysts mention that American Mortgage Acceptance Company announced that it expects a default on the interest on four loans, amounting to 4% of its total assets. While the collateral value is sufficient, it is unclear how and when the company would be able to manage the underlying assets, the analysts say.