Fitch: U.S. Auto ABS Performance Going Strong
U.S. auto loan ABS asset performance continues to be solid with historically low delinquency rates and loss rates at or near record lows, despite a slight uptick in loss rates during June.
U.S. auto loan ABS asset performance continues to be solid with historically low delinquency rates and loss rates at or near record lows, despite a slight uptick in loss rates during June.
Seasonal weakness drove U.S. prime auto loan ABS losses slightly higher in January versus prior months, according to Fitch Ratings.
General Motors Corp. (GM)’s filing for Chapter 11 bankruptcy protection is expected to have limited immediate ratings implications on outstanding auto related ABS transactions issued by GMAC, according to Fitch Ratings.
Ratings agency DBRS said lower volume and a more selective business practice may lead to an improvement in subprime auto ABS performance.
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