BoA MH Classes Downgraded

Published December 16, 2004, 3:00 p.m. EST

1 Min Read

Four classes of BankAmerica Manufactured Housing Contract Trust securities have been downgraded by Fitch Ratings.The downgrades were as follows: series 1995-BA1, class B-1, from B to CCC; series 1997-1, class M, from CCC to C; series 1997-2, class M, from CCC to C; and series 1998-2, class B-1, from CCC to C. In addition, the ratings on 14 classes in six BankAmerica MH deals were affirmed. Fitch attributed the downgrades to higher-than-expected losses that have caused "significant" interest shortfalls. Fitch can be found online at http://www.fitchratings.com.

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