(The following statement was released by the rating agency) Aug 31 - Despite the weak economy and high unemployment levels, Fitch Ratings saw auto lenders benefit from seasonal trends in the first half of 2009, thanks in part to an improvement in used vehicle values. Still, loss rates continued to increase year-over-year and up-ticks in second quarter delinquency rates, which is a common seasonal trend, signal higher loss rates in the back half of the year. Furthermore, poorer 2006 and ...
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