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Auto ABS heats up with $4.7B of issuance

A handful of prime and subprime securitizers pumped up ABS volume this week, bringing $4.7 billion of loans and leases to market, according to presale reports from S&P Global Ratings.  Auto ABS volume totaled $61.3 billion as of July 8, up 12.7% year over year, according to data from JPMorgan Securities. On the prime side, […]

Weakening Credit Spurs Santander Downgrade

Santander Consumer USA's rating has been cut to neutral from positive by Susquehanna Financial Group as shifts in the lender's portfolio dynamics make it appear that credit is worsening in the short term, SFG’s bank and auto finance analyst Jack Micenko told Auto Finance News. The most notable change relates to SCUSA’s troubled debt restructuring […]

Failure of FCA-Renault Merger a Good Sign for SCUSA, Analyst Says

As Fiat Chrysler Automobiles closes the door on the potential Groupe Renault merger, withdrawing its merger proposal to the French OEM Wednesday evening, another door may open for Chrysler Capital owner Santander Consumer USA. While SCUSA is “no longer talking to Chrysler about buying Chrysler Capital” — a discussion that started in May 2018 — […]