TEXT-Moody's reports on auto abs issuance

Newswire

(The following statement was released by the ratings agency) LONDON, Jan 22 - Public issuance of subprime and near-prime auto ABS is likely to increase by about 11% to reach approximately $20.5 billion in 2004, up from 2003's $18.5 billion, based on issuer forecasts of loan origination growth, says Moody's Investors Service in a new report on the industry. Growth in issuance will be driven mostly by improvements in the overall US economy, the rating agency says. Moody's cautions, ...

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