Buyer calls 'end of the cycle' for subprime auto

marketdown
By Ryan Bolger
19 Mar 2015

Increased delinquencies in subprime auto ABS are beginning to bite, with one asset manager that bought a large slice of Prestige Financial’s last issue turning down the firm's latest deal.

A portfolio manager at the firm who preferred to remain anonymous told GlobalCapitalthat Prestige Financial was a sound company with strong lending fundamentals compared with some other transaction sponsors. 

However, he said the firm had chosen not to subscribe to Prestige’s new issuance even though it offered a ...

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