OREANDA-NEWS. S&P Global Ratings today lowered its rating on the class D notes from Distribution Financial Services RV/Marine Trust 2001-1, an asset-backed securities transaction backed by loan and installment sales contracts on RVs and marine assets, to 'D (sf)' from 'CC (sf)'.

The downgrade on the only remaining class D notes reflects a payment default resulting from the class' interest shortfall on the July 2016 payment date. We believe that an interest shortfall will likely persist due to the adverse performance trends we have observed in the underlying collateral pool.