TEXT-Fitch: seasonal factors slow U.S. auto ABS declines


(The following statement was released by the ratings agency) March 31 - Despite poor economic fundamentals and issues surrounding the auto industry, prime annualized net losses (ANL) posted a 7% monthly decline in February, according to Fitch Ratings. Seasonal patterns along with improving wholesale vehicle values, supported performance in February, according to Managing Director John Bella. 'Tax refunds and rebates will aid performance in the next couple months,' said Bella. 'However, ...

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