KBRA Releases Auto Loan ABS Indices for May 2021

Kroll Bond Rating Agency (KBRA) releases its auto loan ABS indices for May 2021.

May remittance reports showed auto loan credit trends remained strong during the April collection period. Early-stage delinquencies (30-59 days past due) in the KBRA Prime Auto Loan Index fell 8 basis points (bps) month-over-month (MoM) to 0.60%, while late-stage delinquencies (60+ days past due) declined 1 bp to 0.22%. Meanwhile, early- and late-stage delinquencies in the KBRA Non-Prime Auto Loan Index were up 3 bps and down 17 bps MoM, respectively, coming in at 5.21% and 2.76%. Annualized net losses also trended lower in both indices during the month, driven by favorable delinquency metrics and a strong used car market, which 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.

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