Subprime woes nibbling at asset-backed securities

08/13/2007 | Wall Street Journal, The

Add asset-backed securities to the list of investment vehicles that are trying to navigate the fallout from the downturn of the subprime-mortgage market. The one saving grace for asset-backed securities may be stability in the U.S. consumer. "New issuance volume in the credit-card, auto and student-loan [asset-backed securities] sectors has slowed over the past couple of weeks, but ... the underlying credit fundamental in those assets remains solid," said Kevin Duignan, managing director in Fitch Ratings' asset-backed-securities group.

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