CDO shop Deerfield Capital Corp. announced the company's conversion to a C corporation  to maximize its use of significant tax benefitsto increase stockholder value. 

The tax benefits available upon conversion to a C-corp mainly represent the future tax savings expected from deductible losses on interest rate swaps and a likely 2008 net operating loss (NOL) carry forward, which can both be used to offset taxes that are otherwise due within the next 20 years. 

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