NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases its marketplace consumer loan indices for July.
The primary market was active again this month, with SoFi and Marlette pricing a total of $948 million of marketplace consumer loan bonds. However, pricing was a bit softer compared to the last time these two issuers tapped the ABS market in May. Looking at collateral performance in July, the results were mixed, but fundamentals remain solid. Annualized net losses in KBRA’s Tier 1 Index fell to 3.74%, while Tier 2 Index loss rates came in at 12.10%, up 181bp MoM, but down 279bp YoY. Meanwhile, KBRA’s Tier 3 Index experienced strong collateral performance metrics, driven by stronger performance in Avant’s (AVNT) 2017 vintage deals versus their 2016 vintage.
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About KBRA and KBRA Europe
KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and 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.