Issuance of vehicle ABS is nearing another record and spreads remain tight, indicating that there’s plenty of investor demand for the asset. There are some concerns about performance, particularly for subprime auto ABS.

The securitization will retire a similar transaction that was issued a year ago. Rating services raised some concerns about changes in streaming and risks from songs generated with AI.

Ascent Funding has an offering backed by loans tied to coding classes. Morningstar has warned that ABS investors aren’t protected in the event of a bankruptcy by the borrower.