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1999 ABS Year in Review Feb 00
Standard & Poors, Feb 2000
Abstract
(Editor's note: This article was originally published on RatingsDirect on Feb. 2, 2000. It is being republished to correct the stated volume of credit card ABS expected to hit their amortization period in 2000.) The ABS market returned to robust health in 1999, propelled in part by volume increases in the nonresidential mortgage-related term ABS and asset-backed commercial paper (ABCP) sectors. 'The ABCP market grew by 36% and reached US$520 billion, and there was significant growth in most segments of the ABS market in 1999. The hottest area within the public ABS market was the auto sector, which had a record year with new issue volume up 23% over 1998,' said Joseph Sheridan, managing director and head of Standard &...
Companies mentioned in this report are: American Express Co.,Bank One Corp.,Ford Motor Credit Co. LLC,Chase Manhattan Bank N.A. New York, NY,Citibank N.A.,Toyota Motor Credit Corp.,KeyCorp,Conseco Finance Corp,United Companies Financial Corp.,Falcon Asset Securitization Company LLC,FIA Card Services N.A.,Associates First Capital Corp.,Capital One Bank (U.S.) N.A.,Fleet Bank N.A.,Providian National Bank,AutoNation Inc.
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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