Credit Acceptance Corp. is marketing $330 million of notes backed by subprime auto loans.

Credit Acceptance Auto Loan Trust 2016-2 will issue three tranches of notes with preliminary ratings from Standard & Poor’s: $200 million class A notes with a legal final maturity of October 2023 and credit support of 64.2% are rated triple-A; $58.5 million of class B notes maturing in April 2024 with credit support of 55.7% are rated double-A; and $41.88 million of class C notes maturing in October 2024 with credit support of 51% are rated single-A.

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