Consumer Portfolio Services is planning its second subprime auto loan securitization of the year, according to a presale report published by Standard & Poor’s.

The $202.5 million CPS Auto Receivables Trust 2014-B will issue five classes of fixed-rate notes; S&P assigned a preliminary ‘AA-‘ rating to the $141 million class A notes;  an ‘A’ rating to $26.83 million of class B notes; a ‘BBB’ rating to $18.73 million of class C notes; a ‘BB’ rating to $10.13 million of class D notes; and a ‘B+’ rating to $5.57 million of class E notes

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