NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of November and reports on delinquency roll rates from asset-level disclosures.
Auto loan ABS credit performance was somewhat mixed in November, with KBRA’s Prime Auto Loan Index and Non-Prime Auto Loan Index posting higher losses on a month-over-month basis, but showing a year-over-year improvement. The MoM increase in net losses was expected as seasonal factors will likely continue to cause credit performance to deteriorate for the remainder of the year. However, we expect stable or improving YoY comps to continue, as poorer performing loans from the 2015 and 2016 vintages roll off and loans from the better performing 2018 and 2019 vintages increase as a percentage of both indices.
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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.