OMI MH Classes Downgraded

The M-2 classes from OMI Trust 2000-A and OMI Trust 2000-C, two securitizations of manufactured housing contracts, have been lowered by Standard & Poor's Ratings Services.Class M-2 of OMI Trust 2000-A was downgraded from CCC-minus to CC, and class M-2 of OMI Trust 2000-C was downgraded from CC to D. The downgrades "reflect the unlikelihood that investors will receive timely interest and the ultimate repayment of their original principal investments," S&P said. The rating agency said it believes that interest shortfalls for the deals will continue, "given the adverse performance trends displayed by the underlying pools of manufactured housing retail installment contracts originated by Oakwood Homes Corp., and the location of M-2 writedown interest at the bottom of the transactions' payment priorities." Losses have reduced the overcollateralization ratios for both transactions to zero, resulting in the complete principal writedown of the B-2 and B-1 classes, and the partial principal writedown of the M-2 classes, S&P said. The rating agency can be found online at http://www.standardandpoors.com,