TEXT-Fitch: U.S. prime auto loan ABS to pre-crisis 2007 levels

Newswire

(The following statement was released by the ratings agency) May 20 - The strong seasonal benefits of tax refunds and better recovery rates on repossessed vehicles have led to a 30% decline in delinquencies and losses on U.S. prime auto loan ABS through the first four months of 2010, according to Fitch Ratings. Fitch's 60+ day delinquency index fell 20% in April, while annualized net losses (ANL) improved by 15% posting the third consecutive monthly decline, both over March levels. The ...

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