Market Overview

KBRA Releases its Monthly Auto Loan Indices for May


Kroll Bond Rating Agency (KBRA) releases its auto loan indices for the
month of May. The accompanying commentary highlights the fact that auto
loan collateral performance metrics improved for the fourth consecutive
month, with annualized net losses and 60+ day delinquencies falling in
both KBRA's Prime and Non-Prime Indices. This month should mark a low
point in net loss and delinquency rates in both indices, as the benefit
of tax refunds has likely been exhausted and summer travel expenses and
other seasonal factors should cause auto loan performance to weaken for
the remainder of the year.

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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.

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