NEW YORK–(BUSINESS WIRE)–#KBRA–Kroll Bond Rating Agency (KBRA) releases its auto loan ABS indices for November 2021.
November auto loan ABS remittance reports displayed the typical seasonal credit deterioration common across most consumer loan types, as holiday expenditures weigh on consumer finances. We expect securitized auto loan credit performance to continue to soften through the early months of 2022, until borrowers begin to receive their tax refunds in early spring. However, the typical boost to credit performance that tax refund season usually provides will likely be partly offset by the continued phasing out of other COVID-related stimulus programs—next up is the termination of federal student loan forbearance at the end of January 2022.
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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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Brian Ford, CFA, Senior Director
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+1 (646) 731-2329
brian.ford@kbra.com
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