Global Credit Research:

The credit quality of global auto loan asset-backed securities (ABS) pools will remain steady globally except for pools in North America, where lenders are easing underwriting standards and borrower credit is declining modestly, according to a new report from Moody’s Investors Service, “Global Auto ABS: Lenders in North America Continue to Ease Underwriting Standards, but Credit Quality Remains Steady Elsewhere.”
 “Globally, auto loan ABS pools will continue to consist primarily of loans to prime borrowers,” says Sanjay Wahi, Moody’s Vice President and Senior Analyst. “The exception is the US, which has a sizable market for securitizations backed predominantly by near-prime and subprime borrowers.”