Six classes from three Associates Manufactured Housing Contract Trust pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 1996-1, classes B-1 and B-2, from AA-plus to AA; series 1997-1, classes B-1 and B-2, from AA-plus to AA; and series 1997-2, classes B-1 and B-2, from AA-plus to AA. Fitch also affirmed the ratings on six classes from four Associates transactions. The downgrades were attributed to the downgrade from AA-plus to AA of the corporate rating of Citigroup, which acquired Associates First Capital Corp. in 2000. The ratings of the downgraded classes depend on a limited guarantee from Associates.
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