Deutsche Bank Securities is said to have reds out on an approximately $750 million ARG Funding ABS for ANC Rental Corp., parent company of Alamo Rent-A-Car and National Car Rental. Significantly, ANC is still in Chapter 11 bankruptcy, having filed for protection November 2001. General Motors is the largest supplier of program vehicles for ANC and 85% of its $3.6 billion in 2001 revenue came from airport rentals. ANC has issued $2.5 billion in term ABS, typically employing an MBIA wrap.

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