U.S. Equipment Loan & Lease ABS Indices: April 2026

Monthly Overview

KBRA’s headline Equipment Loan and Lease ABS Index showed mostly improved performance in the April remittance, with lower net losses and muted delinquency rate movement month-over-month (MoM). Headline net losses dropped 17 basis points (bps) MoM, driven by declines in both KBRA’s Small-Medium Ticket and Large Ticket sub-indices, decreasing 21 bps and 15 bps, respectively. Meanwhile, the headline delinquency rate (60+ days) remained largely unchanged, rising just 1 bp MoM, as the sub-indices posted similarly modest movements.

From a year-over-year (YoY) performance perspective, the headline index and sub-indices displayed mixed results. Headline net loss rates declined 7 bps YoY, led by a 14-bp improvement in the Large Ticket sub-index and partially offset by a 3-bp increase in the Small-Medium Ticket sub-index. Meanwhile, headline delinquencies jumped 20 bps YoY, again driven by the Large Ticket sub-index, which increased 35 bps, while the Small-Medium Ticket sub-index…