Downgrades in the term ABS market appear to be stabilizing, while upgrades have increased on a comparative basis, according to a new monthly ratings-action study published by Fitch Ratings. The inaugural edition of Fitch's Term ABS Credit Action Report incorporates commentary and analysis from Fitch's corporate and financial institutions group to keep investors informed of any recent rating actions that may impact their portfolios.

"The credit action report was designed to provide context to investors about credit-related events in the asset-backed market," said Fitch director Kevin D'Albert. "The report offers a comparative, single-source tool to measure credit rating volatility and for monthly credit news impacting various sectors in ABS," he added.

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