Credit Acceptance brings subprime deal as CFPB flexes muscles

By Ryan Bolger
16 Sep 2014

Fitch Ratings cautioned investors in securitizations backed by subprime auto loans on Tuesday, just as the agency's competitors assigned preliminary triple-A ratings to yet another subprime deal and the Consumer Financial Protection Bureau (CFPB) turned up the heat on the sector.

Credit Acceptance, an originator and servicer of loans to auto dealerships, intends to issue a $349m subprime auto ABS, its second subprime issue of 2014, by September 26, according to a Kroll Bond Rating Agency presale.

Kroll and Standard & Poor's assigned preliminary triple-A ratings to the senior ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial