European ABS issuance sold to investors should at most grow only modestly next year, Standard & Poor's said.

Its forecast of €80 billion would place 2012 at the same level as 2010 and 2011. The year-to-date total is €73 billion, which means 2011 will not meet S&P's older prediction of between €90 billion and €100 billion.

That earlier forecast did not anticipate how much the economic outlook would deteriorate and volatility intensify.

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