OREANDA-NEWS. Fitch Ratings has affirmed and withdrawn the following ratings for Distribution Financial Services RV/Marine Trust 2001-1:

--Class D at 'Csf', Recovery Estimate revised to 0% from 15%.

KEY RATING DRIVERS
The affirmation of the outstanding class D notes at 'Csf' reflects Fitch's view that default is considered inevitable.

The pool of RV/marine collateral consists predominately of aged, discretionary equipment, which Fitch believes will be unable to generate sufficient cash flow to repay the notes in full, as the size of the trust's remaining debt obligations far exceeds the value of the collateral.

The recovery estimate for the class D notes was revised to 0%, as the notes are expected to incur an incurable interest shortfall. Principal is expected to be locked out from collections, as all future collections will be applied to fees and interest only. Actual recoveries may be different depending on the performance of the remaining obligors.

Fitch is withdrawing the ratings of Distribution Financial Services RV/Marine Trust 2001-1 as they are no longer considered to be relevant to the agency's coverage.

RATING SENSITIVITIES
Not applicable as the ratings have been withdrawn.

DUE DILIGENCE USAGE
No third party due diligence was provided or reviewed in relation to this rating action.