Auto ABS

The rating agency is now considering lowering its BBB rating on the class B notes. The rating agency also downgraded the class C notes issued in the deal, for a second time, to CC from CCC+.

Flagship, Santander Consumer USA and AmeriCredit are printing $2.3 billion in new notes backed by subprime auto-loan originations.

The deal comes a year after the captive finance company began excluding low-FICO loans from its primary auto loan ABS platform.

Sales of older vehicles are on the rise and prices are headed back up, so there's more collateral available and it is also performing better.

Turbo Finance 8 is a £375.5M static transaction that includes both hire purchase loan contracts and personal contract purchase, lease-like arrangements.

The credit quality of loans backing the Cailfornia-based lender's $183 million securitization is better than that of its inaugural deal, which was only rated 'A' by Kroll.

The fifth SDART deal of the year benefits from the same improvement in credit quality as other recent transactions from the platform.

Consumer Portfolio Services' fourth auto-loan securitization of the year has a 3.97% share of loans previously assigned to CPS asset-backed portfolios, compared to an 11.97% share in its last transaction.

DriveTime is making less-risky loans under a $750 million contract purchase agreement with Ally Financial; it appears that the sponsor is also funding some of this lending through its own securitization platform.

Auto loan securitization has been in overdrive this year, even if the global tussle over import tariffs is injecting a note of caution.