Indian asset backed securities (ABS) performed better in 2015 than the previous year, which is representative of the economy’s resilience, ratings agency Fitch said.

“The build-up in delinquencies for Indian ABS transactions that closed in 2015 was slower than that in 2014, a sign that overall delinquencies have stabilised,” it said in a note. They fell mainly due to a “resilient economy that rebounded from rather slow growth in 2014”, it added. Even though slower than expectations, the growth rate has picked up over the previous year and the country’s GDP is expected to clock a growth of over 7 per cent in 2015-16.

http://economictimes.indiatimes.com/industry/banking/finance/finance/indian-asset-backed-securities-stabilised-in-2015-fitch/articleshow/50732251.cms

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