The financing, DriveTime Auto Owner Trust 2003-B, was underwritten by Greenwich Capital Markets.
Greg Sullivan, President of DriveTime, said, "We were very pleased with the strong investor reception to this transaction, which was again insured by XL Capital Assurance."
Deborah Murnin, a Director at XLCA and head of the Auto ABS Group, said, "We look forward to continuing to work with DriveTime to achieve its objectives."
XLCA, rated triple-A by Moody's Investors Service, Standard & Poor's Ratings Services and Fitch Ratings, is a New York-domiciled financial guarantee insurer that specializes in consumer and commercial asset securitization, structured investment products, power & utilities, global infrastructure, future flow securitization, U.S. public finance, and bank deposit insurance.
XLCA is an indirect, wholly owned subsidiary of XL Capital Ltd (NYSE: XL) which, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis.