Flagship Credit Acceptance’s third subprime auto loan securitization of the year is the company’s first-ever to earn a triple-A credit rating at issuance.

Both Standard & Poor’s and Kroll Bond Rating Agency have issued preliminary ‘AAA’ ratings on two senior tranches of Flagship Credit Auto Trust 2016-3, a $400 million asset-backed deal of new and used auto loans originated by Flagship and CarFinance Capital LLC (a predecessor lender that merged with Flagship in January 2015).

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