United Auto returns after 14 month hiatus

auto loans
By Matthew Scully
24 Jul 2014

United Auto Credit sold 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 came as analysts saw heightened activity from less established auto issuers and credit risks evolve in the sector.

Wells Fargo was lead structurer on the deal. Standard & Poor’s and DBRS rated 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 to 25% in ...

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