CPS Announces $436.31 Million Senior Subordinate Asset-Backed Securitization

In the transaction, qualified institutional buyers purchased $436.31 million of asset-backed notes secured by$460.00 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2024-C, consist of five classes. Ratings of the notes were provided by Standard & Poor's and DBRS Morningstar, and were based on the structure of the transaction, the historical performance of similar receivables and CPS's experience as a servicer. The weighted average coupon on the note ...