TEXT-Fitch:Seasonal strength drives U.S. auto ABS losses to record lows

Newswire

(The following statement was released by the rating agency) Apr 26 - Strong used vehicle values and an improving economy are helping to propel prime U.S. auto ABS losses to new record lows, according to the latest index results from Fitch Ratings. Prime auto loan ABS delinquencies and annualized net losses (ANL) declined 24% and 11% month-over-month (MOM), respectively. Positive economic data, including lower unemployment in recent months, resulted in improved loss frequency during March. ...

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