In what may be a first for the ABS market, MBIA has considered keeping ANC Rental Corp.'s securitizations afloat, sources indicated, rather than winding the deals down as was initially expected when the company filed for Chapter 11 bankruptcy in November, which - per the deal documentation - should have triggered an early amortization. MBIA declined comment.

Until Jan. 20, ANC had ceased making lease payments into its ARG Funding trusts, during which time deal reserves were passed through to investors to pay timely interest.

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