TEXT-Fitch: Prime U.S. auto ABS off to solid start in the second half of 2012

Newswire

July 27 - Prime annualized net losses (ANL) dropped 22% in June over May to a new record low of 0.14%, mainly driven by the strong 2010-2012 driving performance as the weaker 2008-2009 transactions have mostly paid off. Prime delinquencies were stable in June with 60+ delinquencies up by just 2 basis points to 0.40% from 0.38% in May, a 5.26% increase month-over-month (MOM), but were 16.67% lower year-over-year (YOY). Prime cumulative net losses (CNL) also ...

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