European Auto ABS: Recovery Performance Update
AutoSummary
In this commentary, DBRS Morningstar evaluates the recent recovery performance of auto ABS transactions and concludes that any negative impacts associated with the Coronavirus Disease (COVID-19) have been largely offset by the strength of used vehicle markets.
DBRS Morningstar will now only consider any coronavirus-related volatility risks associated with expected recovery performance as part of its typical analytical approach outlined in the “Rating European Consumer and Commercial Asset-Backed Securitisations methodology” and will no longer apply coronavirus-specific recovery adjustments.