KBRA Releases Auto Loan ABS Indices for October 2021
Early-stage delinquencies (30-59 days past due) in KBRA's Prime Auto Loan Index increased 4 basis points (bps) month-over-month (MoM) to 0.84%, while late-stage delinquencies (60+ days past due) rose 1 bp to 0.29%. Meanwhile, early- and late-stage delinquencies in KBRA's Non-Prime Auto Loan Index were up 42 bps and 29 bps MoM, respectively, at 7.2% and 3.94%. Annualized net losses (ANL) trended somewhat higher in our prime index versus the previous month but remained relatively flat in our non-prime index. However, net loss raes remained well below pre-pandemic levels as elevated used vehicle values have continued to support loan recovery rates.
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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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