Geographical diversification of the obligors, proceeds from insurance claims, and the mobility of the underlying assets will limit the impact of Hurricane Sandy on outstanding ABS, according to the Moody's report, which included input from a survey of 16 issuers.

"Pools that back auto loan and lease ABS are generally geographically diversified to insulate investors from regional economic stress or natural disasters such as Sandy," said Moody's Vice President-Senior Analyst Sanjay Wahi. "However, there are somewhat higher exposures to leases in the affected areas."

The average concentrations for New Jersey and New York, the states that bore the brunt of the hurricane, are approximately 3% and 4%, respectively, for loans, and 10% and 12% for leases.

Moody's does expect a slight uptick in charge-offs and a temporary reduction in cash flows as obligors in the hurricane-impacted areas work through their hardship.

"Servicers suspended collection and repossession efforts in affected areas and waived fees in the wake of the storm, and are now offering an average of one- to three-month payment extensions or deferrals on a case-by-case basis," said Moody's Wahi."

The proceeds from insurance claims should cover a substantial portion of the outstanding loan balance on the damaged vehicles, according to the Moody's report.

"Servicers of auto loan and lease asset-backed securities (ABS) were busy reaching out to customers during the aftermath of Hurricane Sandy to offer assistance and gauge the potential impact of the 'superstorm' on their portfolios," said Wahi.

The report is available to Moody's subscribers at http://www.moodys.com/research/Auto-ABS-Servicers-Respond-to-Hardship-Brought-on-by-Hurricane--PBS_SF309649***

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Sanjay Wahi Vice President - Senior Analyst Structured Finance Group Moody'sInvestors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653Eric Fellows VP - Senior Credit Officer Structured Finance Group JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653 Releasing Office: Moody's Investors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653(C) 2012 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

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