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Asset-backed securities weaken, says Moody's
- Middle East: Monday, November 17 - 2008 at 15:32
Moody's Investors Service has said that asset-backed securities auto loans transactions in Europe, Middle East and Africa rated by the company weakened further in the third quarter of 2008. Its performance indices showed weakening across major markets, with the 60+ days delinquency trend rising to 1.05% in Q3 from 1.02% in the previous quarter, while the 60-90 days delinquency trend remained stable at 0.46%. The weighted-average cumulative default trend increased from 0.7% to 0.93% in Q3, which Moody's attributed to the impact of loans securitised in 2006; here the trend for defaulting was higher than in the overall market.
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StaffMonday, November 17 - 2008 at 15:32 UAE local time (GMT+4)
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