An upgrade by Fitch Ratings on the remaining securities of one of the earliest pools of car loans originated by specialist lender Liberty Financial provides a window into the extent of arrears and losses.On a remaining $94 million pool of car loans (out of a face value of $150 million one and three quarter years ago) Fitch said the 30 days arrears rate was 12.3 per cent and the 90 days arrears rate was 4.8 per cent.Net losses to date on the original pool are $4.2 million, equal to about three per cent of the losses on the original loans.Those losses and arrears don't matter much from a ratings point of view. Customers meeting their repayments are doing so at sufficiently high interest spreads to repay investors in the bonds of Liberty Series 2006-1 Auto Trust, and Fitch has now upgraded the credit rating on the subordinated bonds.