Santander Consumer is marketing a fourth offering of bonds backed by subprime auto loans from its Santander Drive Auto Receivables Trust.

The $1.05 billion Series 2015-4 notes are backed by a pool of new and used automobile, light truck and utility vehicle loans. According to Fitch Ratings, the collateral backing 2015-4 is consistent with that of the pervious deal, Series 2015-3 completed in June, with a weighted average (WA) FICO score of 600 and an internal WA loss forecast score of 555.

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