S&P: 2012 Auto Lease ABS Issuance to Surpass Last Year's

Published September 13, 2012, 9:56 a.m. EDT

Updated September 13, 2012, 10:13 a.m. EDT

1 Min Read

U.S. auto-lease ABS issuance was $8.6 billion through early September, according to a short note Standard & Poor's released this morning.

This year-to-date figure is compared to $9.7 billion for all of 2011. S&P analysts expect the sector's volume will most likely meet their $10 billion full-year forecast.

Auto-leasing comprised 24% of all new-vehicle financing in 2Q12, which is similar to a year ago.

Processing Content

American Honda Finance Corp. had an 18% market share in 2Q12, followed by Toyota Motor Corp. with 13%, Ford Motor Credit Co. 11% and Ally Financial 10%.

In deal news, Ally this week priced an ABS transaction backed by auto leases that was upsized to $1.26 billion to $759 billion.

MORE FROM ASSET SECURITIZATION REPORT

RMBS

Sequoia Mortgage prepares $507.1 million in prime RMBS

Despite the quality of the pool's underlying loans, the pool has a large proportion of investment properties, 76.7%, which are susceptible to higher default probabilities.

By Donna M. Mitchell
Editor

May 11
Capital markets

NewRez parent Rithm Capital preps note offering

Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases.

By Bonnie Sinnock
Capital Markets Editor

May 11
Cyber security

IMF calls Mythos a systemic risk

Three senior officials say attackers will eventually breach bank defenses, and supervisors should plan for it — while U.S. regulators stay nearly silent.

By Carter Pape
Technology Reporter

May 11
Employment data

Economy added 115,000 jobs in April despite mixed signals

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.

By Ebrima Santos Sanneh
Reporter

May 8
Esoteric ABS

Affirm prepares to raise $548.9 million from consumer loans

The deal features a principal acceleration trigger. If breached, the transaction will divert all additional funds to paying down the principal on the notes.

By Donna M. Mitchell
Editor

May 7
Nonbank

Treasury meets with life insurers to discuss private credit

The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.

By Kate Berry
Reporter

May 7