KBRA Releases Monthly Auto Loan Indices for August
NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of August and reports on delinquency roll rates from asset-level disclosures.
Servicer reports showed mixed results across securitized prime and non-prime auto loan pools in August. KBRA’s Prime Auto Loan Index showed year-over-year (YoY) improvements for the 19th consecutive month, driven by index mix shift and tighter credit underwriting. However, KBRA’s Non-Prime Auto Loan Index underperformed as losses rose on both a month-over-month and YoY basis.
Meanwhile, an analysis of loan level data showed some improvements in credit as the percentage of prime and non-prime borrowers who went from 60+ days delinquent to current rose to 21.5% and 14.7%, respectively, up from 20.8% and 12.8% during the previous month.
To access the report, click here.
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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
Brian Ford, CFA, Structured Finance Research