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Auto Loan ABS Review: First Half 2000 Aug 00
Standard & Poors, Aug 2000
Abstract
Despite rising interest rates, the auto loan asset-backed securities market in the U.S. demonstrated significant resilience during the first half of 2000. Public issuance rose 15% to $25 billion from $21.8 billion for the first six months of 1999; credit performance remained stable; and recent structural innovations gained wider acceptance. Although total volume including private transactions declined to $29.4 billion from $32.7 billion (see tables 1 and 2), issuance in the first half of 1999 included an extraordinary $9 billion private bank transaction. Excluding this transaction, total volume for the first half of 2000 was up 24%. This article will delineate, on a segment-by-segment basis, first half issuance activity, as well as credit performance. It will also discuss structural innovations...
Companies mentioned in this report are: Columbus,Texas,Ohio,Chrysler Financial Services Americas LLC,Ford Motor Credit Co. LLC,Ally Financial Inc.,Nissan Motor Acceptance Corp.,Zions Bancorporation,Toyota Motor Credit Corp.,First Tennessee Bank N.A. Memphis,Huntington National Bank ,BNY Mellon N.A.,Bay View Bank N.A.,Arcadia Financial Ltd.,FCAR Owner Trust,General Motors Financial Co. Inc.,DriveTime ,Wells Fargo Bank N.A.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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