Consumer Portfolio Services (CPS) closed its subprime auto ABS called Consumer Portfolio Services Auto Receivables Trust 2011-A. The $104 million deal is managed by UBS.
It is the issuer's first rated term securitization in 2011. The transaction was a privately offered. Qualified institutional buyers bought $100.36 million of ABS backed by automobile receivables purchased by CPS mostly in 2010 and 2011.