Kroll Bond Ratings waded into the asset-backed securities sector, releasing its first-ever ABS rating for Flagship Credit Acceptance’s debut subprime auto securitization. Previously, the ratings agency—which opened shop in 2010—focused on commercial and residential mortgage securitizations. [Kroll has rated 10 more subprime auto deals, a tax lien transaction, a container deal and eight private placements. Subprime auto remains the bulk of the rater’s ABS coverage.