Although Moody's Investor Services says in its recent performance report that delinquencies for the Moody's-rated Korean consumer finance receivables deals have come down from the highs experienced earlier in the year, the agency warns that the numbers still look high when compared to the historical data. The picture dims further as charge-offs continued to be high in the 2Q.

A more conservative approach coupled with a focus on asset quality were some of the reasons cited for the better looking numbers, but there are still problems, and the impact of this consumer credit crisis has had its affects on the ABS market.

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