KBRA’s headline Equipment Loan and Lease ABS Index showed improved performance in May, with lower month-over-month (MoM) annualized net losses and delinquency rates. The headline net loss rate fell 5 basis points (bps) MoM, driven by a 15-bp decline in KBRA’s Small-Medium Ticket sub-index, while the Large Ticket sub-index showed little movement, rising just 1 bp MoM. Similarly, the headline delinquency rate (60+ days) improved MoM, declining 10 bps, as both sub-indices posted comparable improvements.
On a year-over-year (YoY) basis, the headline index and sub-indices displayed mixed results. Headline net loss rates showed modest weakening, rising 17 bps YoY, driven by a 42-bp increase in the Large Ticket sub-index, but partially offset by a 25-bp decline in the Small-Medium Ticket sub-index. Meanwhile, headline delinquencies improved 25 bps YoY, with stronger performance across both subsectors.
Current indices values as well as MoM and YoY changes are presented in the…
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