Chesswood Group Ltd CHWWQ

2019, 2020 and 2021 abs performance analytics

[Nashville35]

a week ago, performance analytics reports were released by dbrs for the three abs done by pawnee (not include aug 2022 as just launched).  these are 2019, 2020, and 2021.  last performance report from chw only included performance up to jun 30, so this gives more up to date.

this provides performance data up to sep 1.  

delinquencies fine and cumulative net losses (cnl) still running below original expected cnl (after adjusting for maturity of portoflio).  

delinquencies (>30 days):

                                 2019 abs     2020 abs    2021 abs
6 months ago               1.49%         0.72%        0.49%
3 months ago               1.36%          0.85%        0.77%
1 month ago                 0.88%          0.9%          0.8%
current                          0.83%          1.02%        0.8%

>120 day delinquencies:   2019 abs - 0.23% , 2020 abs - 0.17%, 2021 abs - 0.06%


following latest abs which allowed chw to pay down warehousing facility in full and part of revolver, chw less exposed to higher near term rates, since warehousing facility and revolver most exposed to floating rates.