Consumer ABS

Fitch Ratings said that student loan securitizations backed by rehabilitated Federal Family Education Loan Program (FFELP) loans tend to be riskier than non-rehab FFLEP deals.

Discover Bank plans to issue $550 million of credit card ABS from its Discover Card Execution Note Trust.

Sallie Mae increased the size of its second private student loan-backed securitization but priced the deal at wider spreads on Friday.

The New Mexico Educational Assistance Foundation plans to issue a $224 million Federal Family Education Loan Program–backed student loan securitization deal.

Private student loans originated after 2008 are performing better than Federal Family Education Loan Program (FFELP) student loans, according to a Moody’s Investors Service report.

GE Commercial Distribution Finance Corp. issued its $500 million dealer floorplan asset-backed securitization on Wednesday.

A cap on the allocations of borrower accounts to not for profit servicers of the Federal Direct Loan Program could result in losses for Federal Family Education Loan Program-backed securities, said Fitch Ratings.

Europe’s auto ABS pipeline continues to build and the latest boost comes from SOFIRA’s EUR550 million ($714.5M) revolving cash securitization of dealer floorplan receivables extended to auto dealers in France.

BMW plans to launch a CHF 300 million ($318M) Swiss auto lease ABS, Bavarian Sky Europe, Compartment 1; the issuer’s first transaction in the Swiss market.