Donna M. Mitchell

Performance in recent vintages of Tesla leases, specifically 2024, had weakened recently, leading to increased credit loss expectation for the deal by 0.75%.

A significant percentage of the Barclays Dryrock accounts, about 74.2%, were co-branded with 13 different partner credit card accounts.

Credit performance in Ford's managed portfolio normalized recently, with June 2025, delinquencies reaching 1.38%. That was higher than 1.19% from a year prior, but lower than 1.62% at yearend 2019.

During sequential interest amortization, interest on TIP Solar's class B notes will be deferred until the interest and principal on the class A notes and class B's outstanding principal amount are all paid.

O'Donnell, a partner, will work in its New York office and Menon is a director in London.

Among other credit boosting measures, the structure also prohibits any interest from being advanced on loans that are more than 90 days delinquent.

As the industry grapples with those questions, KBRA went ahead with ratings downgrades.

The non-prime collateral pool starts out with 56,336 contracts, and an average balance of $26,041, which could be upsized to 71,695 contracts, with an average balance of $26,034.

Coupons range from 4.17% on the A1 notes, rated P1/A1+ by Moody's and Fitch Ratings, respectively, to 5.38% on the class N notes, which S&P rates BB.

Notes are anticipated to repay in October 2032, with a final maturity date of December 2055.