Resurgence of Coronavirus to hurt commercial vehicle loans: Moody’s
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Synopsis Slowing economic activity in India due to the second wave will constrain commercial vehicle owners capacity to pay auto loans. As a result, commercial vehicle loan delinquencies will increase in India and collection rates will remain below March levels over the next three to six months, says Dipanshu Rustagi, a Moody s Assistant Vice President and Analyst.
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India s coronavirus resurgence has delayed the country s economic recovery, which will hurt the performance of asset-backed securities backed by commercial vehicle loans, according to a report by Moody s Investors Service.