Continuing its ascension to benchmark status among the captive auto lenders, Nissan Motor Acceptance Corp. priced a retail auto-loan transaction last week at tighter levels than those of one of the Big-Three - it exceeded the levels of Ford's most recent transaction across the board - and priced in line with Chase Auto 2002-A, the tightest auto print of 2002.

Compared to its previous offering this year, spreads are seven to 14 basis points inside of the $1.36 billion 2002-A offering that priced Jan. 10, which at the time was one to three basis points behind Ford's 2002-A deal.

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