Over $1.5 billion in securities backed by prime auto loans were added to the new issue pipeline this week via deals being market by Porsche and Ally Bank, according to Standard & Poor's presale reports.

Porsche plans to issue $488.3 million of notes backed by prime auto loan receivable via Financial Auto Securitization Trust 2014-1. S&P expects assign ‘AAA’ ratings to $344.2 million of these notes offered under Also on offer is a $144 million money market tranche that S&P expects to rate ‘A-1+’.

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