Santander Consumer USA is offering its second auto loan-backed ABS of the year in a $1.059 billion securitization of its higher-quality new and used subprime loan receivables.  

According to presale reports from Fitch Ratings and Moody’s Investors Service, the pool of automobile, light truck and utility vehicle loan originations through Santander Consumer USA will back securities in the seven-tranche Santander Drive Auto Receivables Trust (SDART) 2016-1 offering.  

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