European Auto ABS Index Report Q4 2009?Arrears Are More Level But Spain Still Suffers Negative Rating Actions Mar 10

Standard & Poors, March 2010

Abstract
Overall delinquency rates in Standard & Poor's Ratings Services' European auto asset-backed securities (ABS) index decreased by 6 basis points (bps) during Q4 2009, compared with the end of Q3. Part of this decrease was due to five new transactions being added to the index in Q4 2009, as at least eight months of performance data were available for them. The new added transactions account for 5.2% of the auto ABS index. Loans more than 90 days in arrears decreased by 4 bps to 1.57% in December 2009, compared with 1.61% at the end of Q3. The average monthly loss rate in Q4 increased by 4 bps to 0.22%. We have not included Spanish transactions in this calculation (see "Performance...

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Research Type: Commentary
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