Losses in both prime and subprime auto loan securitizations rose in January, but asset performance should improve in February and March, according to Fitch Ratings.

In  a report published today, the ratings agency calculates that annualized losses rose 6.8% for prime deals rose 6.8% in January on a monthly basis, while subprime losses increased by 1.3%. Fitch's prime and subprime indices total $73.4 billion in outstanding notes: 65% is backed by prime loans, and the remaining 35% by subprime loans.

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