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In the United States, auto lease ABS is not expected to suffer from the General Motors recalls that occurred over the last several months. Although, there are reports that the companya��s overall reputation may be tarnished down the road from these recalls, experts feel as though the short term credit risk isna��t as great as a result of this. The credit criteria is designed in such a way as to limit the companya��s overall risk and they feel it doesna��t pose an immediate threat to the firma��s overall financial stability as of now. According to the Fitch rating, the auto lease pools are subjected to less risk in their association with the ignition switch and power steering recalls from 2003 to the current day.
Fitch does not project any significant ratings actions to auto lease ABS as of now that have any affiliation with the vehicle recalls of the past. The most notorious recall in present years, which was large scale enough to draw the majority interest of the public, was Toyotaa��s recall a few years ago of more than 10 million automobiles. This caused the public view of the company to significantly decline and the overall revenues of the company eventually suffered for a while.
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