Ally Bank is in the market with an auto ABS called Ally Auto Receivables Trust (AART) Series 2010-5. Standard & Poor's and Fitch Ratings are rating the deal.
The six-tranche, $977.99 million deal, which is managed by JPMorgan Securities, is the seventh securitization issued and sponsored by Ally Bank, which was formerly GMAC Bank, according to a Fitch presale report.
According to Fitch, the 2010-5 Series deal is collateralized by a pool of new and used automobile and light-truck loans originated and acquired by Ally Bank directly from dealers pursuant to agreements with dealers that are part of General Motors Co. (GM), Chrysler Group, and affiliated and non-affiliated GM dealers.
To view the offering's prospectus supplement filed with the Securities and Exchange Commission, please click on this link.
Ally's last deal under this trust, Series 2010-4, came to market in early November. Bank of America Merrill Lynch, Barclays Capital, and BNP Paribas managed the securitization.