Ratings Raised, Affirmed On 12 Ally Auto Receivables Trusts And Four Capital Auto Receivables Trusts Aug 12
- Language: English
- Published: August 2012
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Research Type: Full Analysis
The preliminary ratings assigned to Ally Auto Receivables Trust 2011-2's (AART 2011-2's) asset-backed notes reflect our view of: The availability of approximately 11.2%, 9.3%, 7.3%, and 6.1% credit support (based on break-even cash flow scenarios), including excess spread, to support the class A, B, C, and D notes, respectively. This credit support provides more than 5.0x, 4.5x, 3.0x, and 2.0x our 1.80%-2.00% expected net loss range for the class A, B, C, and D notes, respectively (for more information, see the Standard & Poor's Expected Loss section below); Our expectation that under a moderate, or 'BBB', stress scenario, our ratings on the class A and B notes would not decline by more than one rating category (all else being equal)...
Companies mentioned in this report are: Ally Auto Receivables Trust 2011-2
Ally Auto Receivables Trust 2011-2