Auto ABS net loss rates were 0.89% as of May 2012, increasing four basis points from April, Standard & Poor's said in a report released Friday. The previous month had the lowest rate since the rating agency started tracking them in 2006.

According to S&P, the current loss levels have improved on a year-over-year basis. The losses were 17.78% less versus 1.09% in May 2011 and 65% lower compared to 2.52% in May 2009.

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