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Press release content from Business Wire. The AP news staff was not involved in its creation.

KBRA Releases Auto Loan ABS Indices for June 2021

July 20, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Jul 20, 2021--

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210720006035/en/

CONTACT: Analytical ContactsBrian Ford, CFA, Senior Director

Structured Finance Research

+1 (646) 731-2329

brian.ford@kbra.comAndrew Ye, Senior Analyst

Structured Finance Research

+1 (646) 731-1232

andrew.ye@kbra.comBusiness Development ContactTed Burbage, Managing Director

+1 (646) 731-3325

ted.burbage@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2021.

PUB: 07/20/2021 01:09 PM/DISC: 07/20/2021 01:09 PM

http://www.businesswire.com/news/home/20210720006035/en