Consumer Portfolio Services (CPS) is in the market with CPS Auto Receivables Trust 2011-C worth $119 million.
Moody's Investors Service has assigned its provisional ratings to the deal, which is the third senior/subordinated transaction of the year for the auto firm.
The complete rating actions are: Class A Notes were assigned 'A2 (sf)'; Class B Notes 'Baa2 (sf)'; Class C Notes 'Ba2 (sf)'; and Class D Notes 'B2 (sf).'
In other ABS deal news, CNH Capital America is in the market with with $810.9 million deal backed by equipment retail installment sales contracts. The deal is called CNH Equipment Trust 2011-C.
The joint bookrunners on the transaction are Citigroup Global Markets, Credit Agricole Securities, and Credit Suisse. |
Standard & Poors, which is rating the offering along with Fitch Ratings, assigned preliminary ratings of 'A-1+(sf)' to the A-1 tranche worth $175 million; 'AAA (sf)' to the A-2 worth $280 million; 'AAA (sf)' to the A-3 worth $233 million; 'AAA (sf)' to the A-4 worth $99 million; and 'A+' to the B class worth $23.9 million.
Meanwhile, two CMBS deals are also in the market. The first is the Cantor Fitzgerald CMBS, which might price this week, that ASR reported on earlier. For full story click
Another transaction, according to a report from Bloomberg, is from UBS and Citigroup. Both banks are marketing a deal worth $673.9 million that is tied to 32 mortgages on 38 properties across the U.S., the report said.
