Auto ABS ratings stable amid economic strain -Fitch

Newswire

NEW YORK, April 29 (Reuters) - Despite pressures from harsh economic conditions and a deteriorating wholesale vehicle market, ratings of prime U.S. auto asset-backed securities remained stable in the first quarter, said Fitch in a report. Fitch's prime auto delinquency index, which measures loan delinquencies of 60 days or more, declined to 0.63 percent in March after hitting a 10-year high of 0.77 percent in January. During the first quarter, the rating agency upgraded eight classes of ...

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