NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases its auto loan indices for the month of July. The accompanying commentary highlights the fact that auto loan collateral performance weakened during the month, with annualized net losses rising in both KBRA’s Prime and Non-Prime Auto Loan Indices. The trend should progress through the remainder of the year, as summer travel and holiday spending weigh on borrower finances.
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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, is 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.