NEW YORK — Fitch Ratings recently provided outlooks for 33 classes of subprime auto loan asset-backed securities, and just over half, or 61 percent, gained stable outlooks.

Meanwhile, the other 39 percent received a negative outlook. Overall, 33 classes from 17 issuance trusts equaling more than $4.7 billion were reviewed by officials.

"Given a relatively short weighted average life of auto ABS tranches, these rating outlooks indicate a potential rating action within a 12-month period," executives explained.

"Rating outlooks will be reviewed concurrently with the rating review for the transaction and published in conjunction with the long-term rating (short-term ratings of F1+ are excluded from Rating Outlooks)," they added.

To compile these outlooks, the company said it looks at transaction specific and macro factors, as well as the loss performance of the underlying collateral. Using a historical ABS loss curve and a transaction specific initial base case cumulative net loss assumption, the company decides upon a transaction specific expected CNL. Fitch then compares how the tranche is performing compared to expectations.

Fitch's outlooks for the tranches are:

—AmeriCredit Automobile Receivables Trust 2004-D-F A-4 'AAA', Outlook Stable
—AmeriCredit Automobile Receivables Trust 2005-A-X A-4 'AA-' Outlook Stable
—AmeriCredit Automobile Receivables Trust 2005-C-F A-4 'AA' Outlook Negative
—AmeriCredit Automobile Receivables Trust 2006-A-F A-4 'AA' Outlook Negative
—AmeriCredit Automobile Receivables Trust 2006-B-G A-4 'BBB' Outlook Stable
—AmeriCredit Automobile Receivables Trust 2007-A-X A-3 'BBB' Outlook Stable
—AmeriCredit Automobile Receivables Trust 2007-A-X A-4 'BBB' Outlook Stable
—AmeriCredit Automobile Receivables Trust 2007-B-F A-3-A 'AA'; Outlook Negative
—AmeriCredit Automobile Receivables Trust 2007-B-F A-3-B 'AA' Outlook Negative
—AmeriCredit Automobile Receivables Trust 2007-B-F A-4 AA' Outlook Negative
—AmeriCredit Automobile Receivables Trust 2007-D-F A-3-A'AA'; Outlook Negative
—AmeriCredit Automobile Receivables Trust 2007-D-F A-3-B'AA'Outlook Negative
—AmeriCredit Automobile Receivables Trust 2007-D-F A-4-A 'AA'; Outlook Negative
—AmeriCredit Automobile Receivables Trust 2007-D-F A-4-B 'AA'; Outlook Negative
—AmeriCredit Automobile Receivables Trust 2008-A-F A-2-A 'AA' Outlook Negative
—AmeriCredit Automobile Receivables Trust 2008-A-F A-2-B 'AA'; Outlook Negative
—AmeriCredit Automobile Receivables Trust 2008-A-F A-3 'AA' Outlook Negative
—AmeriCredit Automobile Receivables Trust 2008-A-F A-4 'AA' Outlook Negative
—Capital One Auto Finance Trust 2005-C A-4-A 'A+';Outlook Stable
—Capital One Auto Finance Trust 2005-C A-4-B 'A+';Outlook Stable
—Capital One Auto Finance Trust 2006-C A-4 'A'; Outlook Stable
—Capital One Auto Finance Trust 2007-C A-3-A 'BBB-'; Outlook Stable
—Capital One Auto Finance Trust 2007-C A-3-B 'BBB-'; Outlook Stable
—Capital One Auto Finance Trust 2007-C A-4 'BBB-'; Outlook Stable
—HSBC Automotive Trust 2005-3 A-4 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2006-1 A-3 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2006-1 A-4 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2006-2 A-3 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2006-2 A-4 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2006-3 A-3 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2006-3 A-4 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2007-1 A-3 'AAA'; Outlook Stable
—HSBC Automotive Trust (USA) 2007-1 A-4 'AAA'; Outlook Stable

In other news, the company placed six auto deals "under analysis" because their performance is worse than expected. These deals include:

—Capital One Prime Auto Receivables Trust 2007-1
—Capital One Prime Auto Receivables Trust 2007-2
—Chrysler Financial Auto Securitization Trust 2007-A
—Chrysler Financial Auto Securitization Trust 2008-A
—Chrysler Financial Auto Securitization Trust 2008-B
—DaimlerChrysler Auto Trust 2006-D