CPS deal revives subprime auto pipeline

Car_hire
By Sasha Padbidri
09 Jan 2017

Subprime auto lender Consumer Portfolio Services (CPS) is in the post-holiday market with a $206.32m subprime auto loan securitization, kicking things off for the sector in 2017.

Citi and Credit Suisse are joint book runners for CPS 2017-A, which is expected to price this week.

Kroll Bond Rating Agency, DBRS and S&P Global assigned preliminary ratings of AAA to the $99.12m ‘A’ notes, and AA to the $29.92m ‘B’ notes. The $32.66m ‘C’ ...

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