NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases its auto loan ABS indices for July.
July remittance reports showed solid auto loan credit performance during the June collection period, despite the labor market recovery losing steam as new COVID-19 cases surged across much of the Southern and Western United States.
Early-stage delinquencies (30 to 59 days past due) increased 4bp month-over-month (MoM) but fell 44bp year-over-year (YoY) to 0.74% in the KBRA Prime Auto Loan Index, while the percentage of borrowers in the early stages of delinquency in the KBRA Non-Prime Auto Loan Index rose to 5.91%, up 4bp MoM but down 304bp YoY.
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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 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) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe Limited is located at 6-8 College Green, Dublin 2, Ireland.