NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of December and reports on delinquency roll rates from asset-level disclosures.
Auto loan ABS credit performance showed signs of improvement in December, with KBRA’s Prime Auto Loan Index and Non-Prime Auto Loan Index posting stable or lower delinquency and loss rates. Despite the favorable month-over-month and year-over-year performance, we expect delinquency and loss rates to remain elevated over the next couple of months, before beginning a downward trend in March (February collection period), as borrowers begin to receive tax refunds, providing an additional source of cash flow to help them pay their auto loans.
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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
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