KBRA Releases Auto Loan ABS Indices for April 2021

NEW YORK--()--Kroll Bond Rating Agency (KBRA) releases its auto loan ABS indices for April 2021.

April remittance reports showed auto loan credit trends remained well grounded during the March collection period. Early-stage delinquencies (30-59 days past due) in the KBRA Prime Auto Loan Index fell 23 basis points (bps) month-over-month (MoM) to 0.67%, while late-stage delinquencies (60+ days past due) declined 11 bp to 0.23%. Meanwhile, early- and late-stage delinquencies in the KBRA Non-Prime Auto Loan Index were down 177 bps and 102 bps MoM, respectively, coming in at 5.11% and 2.89%. Annualized net losses also trended lower in both indices during the month, driven by favorable delinquency metrics and a frothy used car market, which has helped to keep recovery rate at elevated levels in 2021.

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About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Contacts

Analytical Contacts

Brian Ford, CFA, Senior Director
Structured Finance Research
+1 (646) 731-2329
brian.ford@kbra.com

Andrew Ye, Senior Analyst
Structured Finance Research
+1 (646) 731-1232
andrew.ye@kbra.com

Business Development Contact

Ted Burbage, Managing Director
+1 (646) 731-3325
ted.burbage@kbra.com

Contacts

Analytical Contacts

Brian Ford, CFA, Senior Director
Structured Finance Research
+1 (646) 731-2329
brian.ford@kbra.com

Andrew Ye, Senior Analyst
Structured Finance Research
+1 (646) 731-1232
andrew.ye@kbra.com

Business Development Contact

Ted Burbage, Managing Director
+1 (646) 731-3325
ted.burbage@kbra.com