-
The trust employs a 24-month revolving period. There is an increased risk that collateral quality could deteriorate as the transaction evolves with new collateral.
March 27 -
Four tranches of class A notes make up the capital structure, and they all benefit from 3.00% in total initial hard credit enhancement.
March 26 -
Raising $344 million, the deal securitizes revenues from loans with lower balances and a higher weighted average loan-to-value ratio compared with the previous deal.
March 25 -
Used car loans support the notes, where the two class A tranches benefit from 59.90% in total credit enhancements, while classes B, C, D and E have 51.88%, 42.54%, 33.23%, and 26.96% respectively.
March 19 -
The underlying loans have 8.32 months in seasoning, which is higher than the amount seen on Arivo Acceptance securitizations going back to the series 2021-1 deal.
March 19 -
Revenue from auto dealer floorplan receivables will secure $920.2 million in class A notes from the Nissan Master Owner Trust Receivables, both series 2024-A and 2024-B, according to Moody's Investors Service.
March 18 -
FCAOT, in its first issuance of the year, could upsize the deal to $1.5 billion
March 15 -
Prime quality auto loans secure the pool, although recent rapid origination growth put some strain on and deterioration on the notes in the 2022 and 2023.
March 13 -
Spreads are expected to come in ranging from 15 basis points over the 3M I-Curve on the A1 notes to 160 bps over the benchmark on the class D notes.
March 12 -
Initial overcollateralization is 11.3%, up from 8.50% of the initial collateral pool balance. Aside from that adjustment, target overcollateralization is 22.45%, compared to 13.00% on Westlake 2023-4 deal.
February 28