Fitch Issues Latest 'In the Auto ABS Driver's Seat' Report

    NEW YORK--March 4, 2003--Fitch Ratings has issued its latest 'In the Auto ABS Driver's Seat' report covering the January 2003 period.
    Delinquencies and losses on prime auto loan asset-backed securities both showed further slight increases in the month of January. There was no encouraging news on the economic front in January.
    Auto sales came back down to earth as sales only totaled a seasonally adjusted figure of 16.2 million, down from December's figure of 16.8 million. Auto ABS issuance started the year off on a quiet note in January with only Ford and GM coming to market. Total issuance topped $6.2 billion.
    The report is available to all investors on Fitch's corporate site, 'www.fitchratings.com' or by contacting Sara Grohl at 1-212-908-0564 or via e-mail, 'sara.grohl@fitchratings.com'. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than twenty asset classes, contact product sales at 1-212-908-0800 or at 'webmaster@fitchratings.com'.