Losses Mounting for Auto Loan-Backed Securities


Fitch Rat­ings announced this week that annu­al­ized net loss­es on prime auto loan asset-backed secu­ri­ties in August came in at a record lev­el. Accord­ing to Fitch, Auto ABS per­for­mance in 2008 con­tin­ues to be impact­ed by the poor state of the U.S. econ­o­my, includ­ing ris­ing unem­ploy­ment, dete­ri­o­rat­ing con­sumer health and low­er whole­sale vehi­cle val­ues.