United Auto Credit Corporation plans to issue $175.6 million in securities backed by subprime auto loans.

The series 2014-1 transaction will offer six tranches of notes rated by DBRS. The $52.3 million, money market fund, class A-1 notes are rated ‘R-1’. The $40.7 million, class A-2 notes are ‘AAA’. The capital structure will also offer $25 million of ‘A’-rated class B notes; $24 million of ‘A’-rated class C notes; $14.6 million of ‘BBB’-rated class D notes and $19 million of ‘BB’-rated class E notes.

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