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Feb 5 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings says in its quarterly European Auto ABS Index report that the performance of its indices primarily displayed stable trends in 4Q13.
The Fitch 30+ Delinquency Index and Fitch 60+ Delinquency Index were largely unchanged at 1.4% and 0.6%, respectively, in 4Q13, while the Fitch Annualised Loss index decreased slightly to 0.4% from 0.5%.
Macroeconomic factors remained under stress across the EU, with new car registrations and used car prices continuing to decrease on an aggregate basis. However, moderate recovery is expected throughout 2014.
New auto ABS issuance across Europe in 2013 was down by around EUR3bn over the previous year. However, there was an increased transaction count (43 vs 40 in 2012).
The report, entitled ‘Auto ABS Index - Europe 4Q13’, is available on www.fitchratings.com or by clicking on the link below.
Link to Fitch Ratings’ Report: Auto ABS Index - Europe Q413