Annual issuer United Auto returns after 14 month hiatus

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By Matthew Scully
21 Jul 2014

United Auto Credit plans to sell this week a $175.6 million securitization tied to loans it makes to subprime borrowers, the issuer’s first transaction in 14 months. The deal comes as analysts see heightened activity from less established auto issuers and credit risks evolve in the sector.

Wells Fargo is lead structurer on the deal. Standard & Poor’s and DBRS are expected to rate the 144a transaction triple-A.

“We have seen stronger issuance form the lesser established issuers, and in the first half [2014] they constituted 35% of total volume compared ...

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