Kroll Bond Rating Agency (KBRA) released its monthly auto loan indices for the month of December. The accompanying commentary highlights the fact that auto loan ABS collateral performance improved for the second straight month, at a time when losses and delinquencies are typically at their highest due to seasonal pressure on consumer finances from holiday spending. Hurricane relief programs may still be playing some part in the improved performance, but as collection practices have begun to normalize, we think it is more likely that tighter lending standards put in place over the past two years has started to influence index securitized auto loan collateral performance.

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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 recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and 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.