NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the
month of April and adds loan level transition matrices to its monthly
Securitized auto loan collateral pools showed improved credit
performance during the March collection period (April reporting period),
with the benefit of tax refunds likely driving annualized net losses and
delinquency rates lower.
Although our indices showed improved year-over-year metrics, loan level
data showed slightly less sanguine results. The number of prime and
non-prime borrowers that went from 60+ days delinquent to current in
March came in at 24.8% and 21.5%, respectively. This is slightly lower
than the 25.6% and 26.9% cure rate experienced in March 2018.
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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) by the European Securities and
Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is
registered with ESMA as a CRA.
Ford, CFA, Structured Finance Research