Three classes of Deutsche Financial Capital manufactured housing transactions have been downgraded by Fitch Ratings.The downgrades were as follows: series 1997-I, class B-I, from B to CCC; and series 1998-I, class B-1, from CCC to C, and class B-2, from C to D. In addition, the ratings on 12 other classes from the two deals were affirmed. Fitch said DFC was a joint venture of Deutsche Financial Services Corp. and Oakwood Acceptance Corp. Contracts included in the transactions are serviced by OAC, a wholly owned subsidiary of Oakwood Homes Corp., which filed for Chapter 11 bankruptcy protection on Nov. 15, 2002, the rating agency said. Fitch can be found on the Web at http://www.fitchratings.com.
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