Asian securitization issuance is expected to continue its steady - if slow - growth this year, with rating agency Moody's Investors Service predicting a total of $2 billion of cross-border deals from non-Japan Asia in 2001, compared with 2000's $1.64 billion and 1999's $1.49 billion.

The majority of that will come from South Korea, which has been the busiest securitization market since the Asian financial crisis. Along with the non-performing loan-backed deal from the Korea Deposit Insurance Corp, which is expected to be worth more than $400 million and should come around the end of the first quarter, the agency expects issuance backed by performing assets including auto loans and equipment leases.

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