CRISIL says it expects securitisation volumes in India to grow in FY11

The ratings agency said as economic recovery and retail lending gather momentum, it expect securitisation volumes in India to increase

Ratings agency CRISIL said it expects securitisation volumes in India will increase and new asset class like gold loans, microfinance loans and toll-road receivables would add to the growth momentum in FY11.

In a release, Pawan Agrawal, director, CRISIL Rating said, "As economic recovery and retail lending gather momentum, we expect securitisation volumes in India to increase. Moreover, new asset classes such as gold loans, microfinance loans and toll-road receivables should add to the growth momentum seen in existing asset classes such as auto loans and home loans."

In a review on the performance of India's structured finance market in 2009-10, the ratings agency said while most asset segments reported strong growth in FY10, with volumes in asset-backed securities increasing two-fold and the introduction of new asset classes such as microfinance loans and gold loans, the single loan sell-down segment of the market declined sharply during the year.
CRISIL, the unit of S&P, has released the first edition of its publication 'Performance of ABS and MBS Pools: CRISIL's Annual Pool Publication', which is part of the ratings agency's initiative to enhance the utility value of its rating services to investors. 

The publication has enhanced disclosures on CRISIL's outstanding portfolio of 217 transactions by 24 originators, and a comprehensive coverage of the performance of rated pools, it said in a release.

"The latest enhancement builds on the improvement in disclosures that we introduced in our credit rating reports in early 2009. We believe these steps will increase investor confidence in CRISIL-rated structured finance transactions, thereby, helping to maintain stability in the structured finance market in India," said Raman Uberoi, senior director, CRISIL Ratings.

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