Firms rated by ICRA show strong credit performance

Ratings agency ICRA said on Monday that a majority of the 73 asset backed securitisation (ABS) rated by it which are live continue to demonstrate a strong credit performance.

The total amount securitised is around Rs 17,255 crore and the cash collateral utilisation in most pools have been low to moderate, a release issued by ICRA said, adding the 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 and unsecured personal loans, it added.

Originators of the loans include HDFC Bank and ICICI Bank, and non bank lenders like Cholamandalam DBS, Grama Vidiyal Microfinance, Reliance Capital, Religare Finvest, Shriram Transport Finance, Sundaram Finance and Tata Motors Finance, it said.

The performance indicators used for analysis are cumulative collection efficiency (cumulative collections to cumulative billings till date) and loss cum 90+ delinquency ratio, ICRA said.