First Investors plans to issue $210 million of subprime auto loan securities from its second deal this year.

The transaction, called First Investors Auto Owner Trust 2015-2, will offer seven tranches of notes. Kroll has assigned preliminary ratings of ‘AAA’ to the class A-1 and class A-2 notes maturing in December 2019 and September 2021 respectively. Both tranches benefit from credit enhancement of 24.75%.

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