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Auto Leases Primed At The Starting Line Feb 98
Standard & Poors, Feb 1998
Abstract
The surge in auto leasing and the dramatic growth in finance companies' lease portfolios have strengthened expectations for auto lease securitization for this year. Although expectations for this asset's growth were high last year and the ABS market saw just five auto lease securitizations, the introduction of structural innovations should facilitate the appearance of new players and increase issuance volume. Several major banks and independent finance companies have set up titling trusts as one of the first steps toward securitization. Industry statistics indicate that auto leasing will account for 36% of all new car sales in 1997, up from 24% just four years ago, and will continue to capture larger portions of the new car market. Evan Ard, editorial manager...
Companies mentioned in this report are: Ford Motor Credit Co. LLC,Toyota Motor Credit Corp.
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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