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August 31, 2010

Auto Loan ABS Performance Follows Seasonal Downshift

The performance of U.S. auto loan ABS is starting to exhibit seasonal negative trends, according to the auto loan ABS indices results from Fitch Ratings.

Tags: auto ABS, delinquencies, Fitch Ratings, prime, subprime

June 15, 2010

New York State Regulation May Drive Away Auto Loan ABS

The New York State Assembly proposed a new bill called the Vehicle Lienholder Accountability Act, which may limit auto loan ABS issuers from including receivables originated in New York state in auto loan securitizations, according to ratings firm DBRS.

Tags: auto ABS

January 14, 2010

Auto ABS Performs Well in 2009 Despite Pressure From High Unemployment

The U.S auto loan ABS sector has performed relatively well in 2009 compared to other ABS asset classes despite the increase in unemployment, bankruptcies of GM and Chrysler and the volatility in the used-car market, according to ratings firm DBRS.

Tags: auto ABS, unemployment rates

January 7, 2010

Fitch Lifts Moratorium on Rating Dealer Floorplan Transactions

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

December 29, 2009

New Year Brings Continued Performance Pressure for Auto ABS

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

December 15, 2009

Prestige Financial Securitizes $151 Million Loan Portfolio

Prestige Financial Services Inc. completed its seventh rated term securitization, issuing $140.5 million in notes backed by $151.1 million in subprime automobile installment loans.

Tags: auto ABS, Prestige Financial, subprime

December 1, 2009

Auto ABS Temporarily Bucks Seasonality Trend, Says Fitch

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

July 28, 2009

Concerns Persist, But Dealer Floorplan ABS Perform Adequately, Says Fitch

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

July 15, 2009