KBRA Releases Auto Loan ABS Indices for June 2021

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

June remittance reports showed securitized auto loans exhibited higher delinquencies during the May collection period. Early-stage delinquencies (30-59 days past due) in KBRA’s Prime Auto Loan Index climbed 14 basis points (bps) month-over-month (MoM) to 0.73%, while late-stage delinquencies (60+ days past due) rose 1 bp to 0.23%. Meanwhile, early- and late-stage delinquencies in KBRA’s Non-Prime Auto Loan Index were up 91 bps and 24 bps MoM, respectively, coming in at 6.12% and 3%. Annualized net losses held relatively steady in both indices and remain well below their year-ago levels. The decline in net loss rates over the past year was driven by favorable delinquency metrics and a strong used car market, which has helped to keep recovery rates at elevated levels.

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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