Delinquencies on subprime auto ABS are rising, according to data from the Federal Reserve Bank of New York. But S&P Global Ratings said the situation may not be as bad as the Fed suggests.

The market leaders in rating non-agency MBS and non-mortgage ABS retained their top rankings in 2018. S&P Global was the top rating service in the ABS market, according to a new Inside MBS & ABS market analysis, after rating $142.24 billion of new issuance, an 11.6% percent increase from 2017. [Includes two data charts.]

Fitch Ratings has painted a positive picture of the U.S. credit card ABS sector this year following a strong finish to 2018.