Auto turnover dampens DFP issuance

Category: ABS CLOs CMBS

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Auto turnover dampens DFP issuance
Accelerated dealer auto inventory turnover has resulted in insufficient collateral available for US dealer floorplan (DFP) ABS master trusts in 2021, Fitch reports. The agency notes that this is indirectly accounted for by deal structures, for the most part, through the use of excess funding accounts (EFAs).

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