The rating on class B-1 of the Conseco-related Manufactured Housing Contract Senior/Sub Pass-Through Certificates, series 2000-6, has been lowered from B-minus to CCC-minus by Standard & Poor’s Ratings Services.The downgrade reflects an approximately $1.2 million principal writedown to the class on the December distribution date, S&P said. Citing adverse performance trends by the underlying pool of collateral and depleted credit enhancement, the rating agency said it believes the likelihood of full repayment to the class B-1 certificateholders by the final maturity date of the series is "remote." S&P can be found on the Web at http://www.standardandpoors.com.
Processing Content
