-  PFAST 2025-1 will have to navigate a market where the underlying consumers are facing increased challenges from tariff-induced higher prices and a loosening labor market. October 22
-  Credit enhancement builds over time and includes non-declining overcollateralization at 5.00% of the initial adjusted pool balance, and a reserve fund that represents 0.25%. October 14
-  The membership also claims a large wallet share of borrowers' financial services business, which supports a strong direct auto lending credit profile. October 3
-  As the deal's servicer, GLS is considered less able to mitigate non-collateral risks on behalf of securitization bondholders, it is still experienced, with more than 35 ABS deals. October 1
-  Credit performance in Ford's managed portfolio normalized recently, with June 2025, delinquencies reaching 1.38%. That was higher than 1.19% from a year prior, but lower than 1.62% at yearend 2019. September 26
-  Coupons range from 4.17% on the A1 notes, rated P1/A1+ by Moody's and Fitch Ratings, respectively, to 5.38% on the class N notes, which S&P rates BB. September 19
-  TLOT 2025-B has a couple of other credit strengths, including Toyota's experience as a sponsor and servicer, and the underlying loans' strong quality. September 15
-  Almost all the notes are fixed rate, except for the A2-B tranche which pay a coupon based on the one-month Secured Overnight Financing Rae (SOFR). September 9
-  Principal will only be paid out to Huntington's noteholders when each tranche of notes maintains a certain level of credit enhancement. August 26
-  A few structural changes are in SFUEL 2025-B, compared with SFUEL 2025-A, and the classes A and B notes benefit from higher subordination levels. August 22









