The $7 billion turnaround plan for Ford Motor Co. may translate into activity for the ABS market, sources said, via Triad Financial Corp.

Triad Financial, acquired in 1999 by Ford Motor Credit, Ford's financing arm, is a sub-prime auto lender based in Huntington Beach, Calif. Market sources have detected some rumblings that the parent may move to spin out Triad in a public offering. However, before any equity offering is pursued, sources said Triad might look to crank out at least one new securitization, possibly more, to shore up its balance sheets for public investors. Triad did not return phone calls seeking comment, and Ford Motor Credit was not reached by press time.

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