European ABS performance resilient so far
European ABS continued to demonstrate impressive underlying performance in May, according to rating agency Moody’s, despite difficult economic conditions. The data is likely to add to the growing investor confidence and appetite for senior ABS tranches.
Performance of UK prime RMBS remained stable in the three month period leading up to May, according to Moodys. Delinquencies of 90 or more days were stable at 1.9%, outstanding repossessions remained stable at 0.2% and cumulative losses increased slightly from 0.2% to 0.3%.
Performance in the UK
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