A slow leak may drain the gas tank on Nissan Motor Acceptance Corp.'s securitization plans this year, according to Tomoaki Shimazu, the firm's vice president of finance and corporate planning.

While Shimazu would not entirely rule out a securitization later this year, he said owing to Y2K considerations, Nissan would likely avoid the fourth quarter; so any chance of a sale would have to be in the fall. The company last issued asset-backed debt in December 1998.

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