Class M-1 of the series 1998-2 IndyMac manufactured housing contract pass-through certificates has been downgraded from CC/DR3 to C/DR4 by Fitch Ratings. Fitch also affirmed the ratings on 11 classes from three IndyMac manufactured housing transactions. The downgrade was based on deterioration in the relationship between credit enhancement and expected losses, the rating agency said. The collateral consists of fixed-rate MH installment sales contracts and installment loan agreements.
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