E-NEWSLETTER

Seasonal weakness drove U.S. prime auto loan ABS losses slightly higher in January versus prior months, according to Fitch Ratings.

Tags: 60-day delinquency, Fitch Ratings, prime auto ABS, used-vehicle values, wholesale-vehicle values

Fitch Ratings has upgraded the issuer default rating for Ford Motor Company and Ford Motor Credit Company to 'B-' from 'CCC'; the outlook remains positive.

Tags: Fitch Ratings, Ford Motor Company, Ford Motor Credit, TALF

Fitch Ratings has lifted the moratorium on rating auto dealer floorplan transactions and published a revised Global Dealer Floorplan (DFP) ABS criteria report. It supersedes, in its entirety, the reports titled “Rating Criteria for U.S. Dealer Floorplan ABS”, dated May 14, 2008 and “European Auto Dealer Floorplan ABS Criteria”, dated Feb. 6, 2008.

Tags: auto ABS, Fitch Ratings, floorplan transactions

Annualized net losses (ANL) on U.S. auto ABS rose again in November in a trend likely to continue into 2010, according to Fitch Ratings.

Tags: 60-day delinquency, auto ABS, Fitch Ratings

Despite various negative indicators, U.S. auto ABS delinquency and annualized net losses (ANL) actually improved at a time of the year when performance characteristically begins to deteriorate, according to Fitch Ratings.

Tags: auto ABS, Fitch Ratings, used-vehicle market

Fitch Ratings assigned a 'CC/RR6' rating to Ford Motor Company's issuance of $2.875 billion seven-year senior unsecured convertible notes, a positive ratings outlook.

Tags: Fitch Ratings, Ford

The ratings for prime senior tranches of asset-backed securities (ABS) auto loan and credit card transactions have remained stable in the first nine months of the year, despite concerns by Fitch Ratings about growing problems in consumer credit and unemployment.

Tags: auto ABS loans, BANK OF AMERICA, Capital Auto, Fitch Ratings, Wachovia

The resurgence of the United States wholesale vehicle market in 2009 has reversed the trend of heavy residual value (RV) losses on leased vehicles in late 2008, and steadied the performance of U.S. auto lease ABS transactions, according to Fitch Ratings.

Tags: auto lease ABS, Fitch Ratings

Sixty-plus-day delinquency levels on U.S. prime auto loan ABS rose more than 10 percent to reach 0.85 percent in August, as consumers continue to struggle with rising unemployment and reduced access to credit, according to Fitch Ratings.

Tags: auto ABS market, Fitch Ratings

Used-vehicle values continued to increase in July, which benefited auto ABS performance by constraining loss severity levels. But loss levels are still expected to increase in the latter half of 2009, consistent with seasonal trends, said Fitch Ratings.

Tags: AmeriCredit, auto ABS portfolios, Fitch Ratings

Auto dealer floorplan ABS transactions entering early amortization due to manufacturer or finance company bankruptcy are largely performing within expectations, though material concerns remain over valuation declines in a still challenged macro environment, according to Fitch Ratings.

Tags: auto ABS, Fitch Ratings

Fitch Ratings assigns a revision rating and downgraded 14 classes from six AmeriCredit Automobile Receivables Trusts. The ratings remain on Rating Watch Negative.

Tags: AmeriCredit, Fitch Ratings