TEXT-S&P reprots on European auto ABS issuance


(The following statement was released by the ratings agency) LONDON, May 28 - The issuance volume of notes backed by auto loans and leases in Q1 2004 was strong, according to Standard & Poor's latest quarterly European Auto ABS Performance Report. Although only three transactions closed, the total issuance of rated notes was EUR2.35 billion, which represents more than 70% of the total issuance that took place in 2003. Socram, a subsidiary of several French mutual insurers, completed ...

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