The overall performance of the auto loan and auto lease asset-backed securities (ABS) market in Europe, the Middle East and Africa remained stable during the three-month period ended November 2015, according to the latest indices published by Moody’s Investors Service.
The sector’s average performance trend was positive in terms of delinquency ratios and cumulative losses.
The 60+ day delinquencies decreased to 0.39% in November 2015 from 0.55% in November 2014, while cumulative defaults decreased to 0.89% from 1.02% over the same period. Cumulative losses decreased to 0.45% in November 2015 from 0.63% in November 2014.
The prepayment rate for overall index increased to 18.27% in November 2015 from 15.59% a year earlier.
As of November 2015, the pool balance of all outstanding rated auto ABS transactions was EUR35.740 billion, constituting a year-over-year increase of 19.6%.