CPS closes $716.88 million senior-subordinate auto receivables securitization

Consumer Portfolio Services closed a $716.88 million senior subordinate asset-backed securitization backed by $734.51 million of auto receivables.

The notes were issued by CPS Auto Receivables Trust 2026-C in five classes with a weighted average coupon of about 5.9%.

Initial credit enhancement included a 1% cash deposit and 2.4% overcollateralization.

Senior Class A notes were rated AAA by S&P and DBRS Morningstar.