CarFinance Capital is planning a $235.2 million of bond backed by subprime auto loans, according to a presale report published by Kroll Bond Rating Agency.

Kroll has assigned preliminary ratings to five classes of notes to be issued by the deal, CarFinance Capital Auto Trust 2014-1: a ‘AA-‘ rating to $168 million the class A notes with credit enhancement of 32%; an ‘A’ rating to a $38.4 million class B notes with credit enhancement of 16%; a ‘BBB+’ rating to $13.32 million of class C notes with credit enhancement of 10.45%; a ‘BBB-‘ rating to $10.08 million of class D notes with credit enhancement of 6.25%; and a ‘BB’ rating to $5.4 million of class E notes with credit enhancement of 4%.  

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