TEXT-Fitch report on U.S. prime auto asset-backed securities

Newswire

(The following statement was released by the rating agency) Nov 25 - Delinquencies and losses on U.S. prime auto asset-backed securities (ABS) remained at their highest levels since 2000, pressured by seasonal factors along with the current economic climate, according to Fitch Ratings. Prime annualized net losses (ANL) hit 1.76% in October, 5% above September and 89% higher than October 2007's level. Prime cumulative net losses (CNL) increased to 0.92% in October, a level last seen in ...

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