Flagship is marketing its fourth subprime auto loan securitization since its merger with CarFinance in January 2015, according to Kroll Bond Rating Agency.

FCAT 2016-2 will issue five classes of notes that KBRA has assigned preliminary ratings ranging from ‘AA’ to ‘BB.’ The transaction has initial hard credit enhancement levels ranging from 29.25% for the class A-1 and class A-2 notes to 4% for the class D notes.

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