Market Overview

KBRA Releases its Monthly Auto Loan Indices for June


Kroll Bond Rating Agency (KBRA) releases its auto loan indices for the
month of June. The accompanying commentary highlights the fact that auto
loan collateral performance metrics were mostly positive during the
month, with annualized net losses and 60+ day delinquencies falling in
KBRA's Prime Auto Loan Index. Annualized net losses also feel in our
Non-Prime Index, but delinquency rates climbed, reversing a three-month
downward trend. Last month we predicted that auto loan credit
performance would begin to deteriorate in June. We saw this, to some
extent, in non-prime delinquency rates, but we expect both prime and
non-prime collateral performance to worsen in July, as seasonal factors
should push losses and delinquency rates incrementally higher each month
through 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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