Seven classes of notes from four deals by auto lender
The four transactions from the auto lender had delinquency rates as high as 6.69% and cumulative net losses of up to 5.56%, according to a Monday release from Kroll which put the deals on “watch downgrade.” The designation signals “meaningful potential” for a ratings cut, according to Kroll’s website. The credit grader will “use reasonable efforts” to reach a final conclusion within 90 days.
The ratings warning on the Needham, ...