Fitch Rating Downgrades 3 Classes from Lehman ABS Corp 1998-1.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 2, 2004 The following rating actions have been taken on Lehman Lehman is a common Germanic surname derived from the German word Lehen, meaning fiefdom. It may refer to: Surnames
In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected 1998-1 by Fitch fitch: see polecat. : Series 1998-1 Group I: -- Class I-A-1 is downgraded to 'AA' from 'AA+'. Series 1998-1 Group II: -- Classes II-A-1 & II-A-2 are downgraded to 'BBB-' from 'A'. The Lehman Manufactured Housing 1998-1 transaction is collateralized with classes from 10 Green Tree manufactured housing transactions. Due to the lack of additional credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing , the credit risk of the transaction is directly tied to the credit risk of the underlying Green Tree classes. The credit risk on some of the underlying classes has recently increased, as reflected in the negative rating actions taken on January 15, 2004. The increased credit risk to the underlying classes has created the need for negative rating action on this transaction. |
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