Consumer Portfolio Services is planning a third securitization of its subprime auto loan portfolio this year, amidst slightly improved underwriting conditions but growing levels of delinquencies on receivables.  

The $318.5 million CPS Auto Receivables Trust 2016-C is an offering with five tranches of notes, led by a senior Class A stack sized at $159.25 million and graded at ‘AAA’ in preliminary structured finance ratings from both Standard & Poor’s and DBRS.

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