CPS closes $767.85 million asset-backed securitization
CPSS•CPS closed a $767.85 million asset-backed securitization on October 21, its fourth term securitization of 2026. The notes are backed by $797.36 million in auto receivables and carry an approximately 6.68% weighted average coupon.
1. Securitization details
CPS closed a $767.85 million senior subordinate asset-backed securitization on October 21, 2026, its fourth term securitization of the year. The five classes of notes are secured by $797.36 million in automobile receivables and carry an approximately 6.68% weighted average coupon.
2. Ratings and credit support
The senior class received triple-A ratings from Moody's and DBRS Morningstar. Initial credit enhancement includes a cash deposit equal to 1% of the original receivable pool balance and 3.7% overcollateralization.
