E-NEWSLETTER

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

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

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

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

Chrysler Financial announced July 15 it has repaid in full the $1.5 billion of Troubled Asset Relief Program (TARP) government loans.

Tags: auto ABS, Chrysler Financial, TALF, TARP