TEXT-Fitch comments for U.S. auto dealer floorplan ABS


(The following statement was released by the rating agency) Dec 23 - A rapid or disorderly bankruptcy by one or more of the U.S. auto manufacturers or their captive finance companies would likely result in negative rating actions on certain U.S. dealer floorplan ABS transactions, although the U.S. government's $17.4 billion bailout announcement provides at least temporary relief and limits the likelihood of this event occurring in the near term, according to Fitch Ratings. To date the ...

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