Stability was the word for the third straight month for U.S. prime auto ABS 60+ days delinquencies. Meanwhile, subprime auto ABS delinquencies hit an 11-year high, which possibly paves the way for a notably weaker fourth quarter, according to Fitch Ratings.

Prime auto ABS 60+ days delinquencies were at 0.71% in September, which is the third consecutive month the index was at this level with no deterioration. Delinquencies of 60 days or more on subprime auto loan ABS rose to an 11-year high of 4.28% in September, an indication of potentially further weakness to come in 4Q08, said Fitch

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