Exeter Finance Corp is marketing a $500 million subprime securitization backed by retail installment sale contracts for new and used autos and light duty trucks.

Standard & Poor’s has assigned preliminary ratings to the deal called Exeter Automobile Receivables Trust 2013-2. The structure offers $317.71 million of ‘AA’-rated class A notes; $67.71 million of ‘A’-rated B notes; $48.17 million of ‘BBB’-rated, C notes; and $66.41 million of ‘BB’-rated, class D notes.

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