This then becomes a major issue if the market looks askance at the company's asset-backed securities.
There is also the key issue of general confidence throughout the asset-backed security marketplace.
Sales of government assets and asset-backed securities would also improve the fiscal position.
The company's fortunes, however, changed dramatically with the introduction and rapid growth of a market for high yielding auto asset-backed securities.
Issuance of asset-backed securities was a slow $3.4 billion, with performance said to be diverging notably between top-tier issuers and the faltering subprime sector.
The asset-backed securities market maintained its remarkable growth through the first quarter of 2004.
The nervous but booming asset-backed securities market saw $11 billion of new issuance, as a quarterly sales record looks increasingly likely.
Many companies sell their trade receivables into the asset-backed commercial paper market.
Meanwhile, investment bankers salivate at the mountain of asset-backed securities created.
Credit card asset-backed issuance posted the largest increase, surging 61% to $65.3 billion.
