Lehman MH Classes Downgraded

Published December 17, 2004, 3:00 p.m. EST

1 Min Read

Nine classes from Lehman ABS Manufactured Housing Contract Trust series 2001-B have been downgraded by Standard & Poor's Ratings Services and removed from CreditWatch with negative implications.The downgrades were as follows: classes A-1 through A-6, from AAA to AA-plus; class M-1, from AA-minus to A-minus; class M-2, BBB-plus to BB; and class B-1, from BB to CCC. The downgrades were prompted by worse-than-expected performance by the underlying pool of manufactured housing contracts and the resulting decline in credit support, the rating agency said. S&P can be found online at http://www.standardandpoors.com.

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