Concord Real Estate CDO 2006-1, Ltd. to Fail Par Value Test
BOSTON, Feb. 4, 2013 (GLOBE NEWSWIRE) -- WRP Management LLC, the collateral manager of Concord Real Estate CDO 2006-1, Ltd. ("CDO"), announced today that due to a default of a loan held by the CDO, a par value test will not be satisfied with the February determination date which will result in interest payments that otherwise would be payable to the Class D, E and F Notes being used to amortize the Class A-1 Notes.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risk and uncertainties that may individually or collectively impact the matters herein described. Forward-looking statements, which are based on certain assumptions and describe Concord's future plans, strategies and expectations, are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "estimates," "projects" or similar expressions. Concord undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Concord's expectations will be realized.
CONTACT: WRP Management LLC Jay Cramer Investor or Media Inquiries Phone: (617) 570-4600; e-mail: firstname.lastname@example.org