Upgrades outpaced downgrades for non real-estate related term asset-backed securities outpaced downgrades for the first time in more than two years, according to Fitch Ratings. Year-to-date Fitch has issued 142 upgrades and 211 downgrades, compared with 32 upgrades and 917 downgrades during the same period last year, the agency reports.
2004 ABS upgrades by sector: 2004ABS Downgrades by sector:
Auto Loan: 53 Equipment Lease: 103
Tobacco: 46 Aircraft Lease: 41
Equipment Lease: 29 Tobacco: 40
Credit Cards: 6 Franchise Loan: 22
Student Loan: 5 Student Loan: 5