Majority of ABS rated by ICRA show strong credit performance

Mumbai, Feb 21 (PTI) Ratings agency ICRA today said amajority of the 73 asset backed securitisation (ABS) rated byit which are live continue to demonstrate a strong creditperformance.

The total amount securitised is around Rs 17,255-croreand the the cash collateral utilisation in most pools havebeen low to moderate, a release issued by ICRA said, addingthe quarterly update is till December 2010.

The receivables include car, commercial vehicles,construction equipment, passenger vehicles, three-wheelers,two-wheelers, gold, micro-finance, medical equipment andunsecured personal loans, it added.

Originators of the loans include HDFC Bank and ICICIBank, and non-bank lenders like Cholamandalam DBS, GramaVidiyal Microfinance, Reliance Capital, Religare Finvest,Shriram Transport Finance, Sundaram Finance and Tata MotorsFinance, it said.

The performance indicators used for analysis arecumulative collection efficiency (cumulative collections tocumulative billings till date) and loss cum 90+ delinquencyratio, ICRA said.