Three classes of Lehman Manufactured Housing 1998-1 have been downgraded by Fitch Ratings.Class I-A-1 of series 1998-1 group I was downgraded from AA-plus to AA, and classes II-A-1 and II-A-2 of series 1998-1 group II was downgraded from A to BBB-minus. The transaction is collateralized with classes from 10 Green Tree manufactured housing transactions, the rating agency said. "Due to the lack of additional credit enhancement, the credit risk of the transaction is directly tied to the credit risk of the underlying Green Tree classes," Fitch said. "The credit risk on some of the underlying classes has recently increased...."
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