BNP Paribas has a €437million ($558 million) securitization of French auto loans.

The deal called FCT Autonoria Compartment Autonoria 2012-1 benefits from several credit strengths, such as a non-amortizing reserve fund of 1.5%, no portfolio concentration relative to the consumers in the transaction.

Moody's Investors Service  has assigned the class A notes in the capital structure a preliminary 'AAA' rating. The rating agency will not rate the class B notes.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.