Toyota Motor Credit is offering as much as $1.75 billion of notes backed by prime auto loans in its third securitization of the year.

The collateral backing the notes has the highest concentration to date of longer-term loans of any Toyota deal. This, along with the overall weakening performance trends of recent Toyota transactions, led Moody’s Investors Service to increase its expectations for cumulative net losses by 10 basis points to 0.60%.

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