J.D. Byrider plans to issue $131 million of securities backed by subprime auto loans via its CarNow Auto Receivables Trust.

Kroll Bond Rating Agency will assign an ‘AA-‘ rating to the three senior tranches of notes issued from CNART 2015-1; that is one notch lower than comparable tranches of the sponsor’s CNART 2014-1 transaction. The lower rating comes despite higher credit support on the two most senior classes of notes.

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