CPS Announces $767.85 Million Senior Subordinate Asset-Backed Securitization
Key Highlights
- ➤$767.85 million notes sold, secured by $797.36 million automobile receivables
- ➤2026-D marks CPS’s fourth term securitization and 61st senior subordinate deal in 2026
- ➤CPS reaches 44 consecutive securitizations with triple-A senior-note ratings
- ➤Notes carry approximately 6.68% weighted average coupon
- ➤Initial credit enhancement includes 1.00% cash deposit and 3.70% overcollateralization
LAS VEGAS, Nevada, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) announced the closing of its fourth term securitization in 2026 on Wednesday October 21, 2026. The transaction is CPS's 61st senior subordinate securitization since the beginning of 2011, and the 44(th) consecutive securitization to receive a triple “A” rating from at least two rating agencies on the senior class of notes. It also marks the 111(th) securitization in the history of the Company.
In the transaction, qualified institutional buyers purchased $767.85 million of asset-backed notes secured by $797.36 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2026-D, consist of five classes. Ratings of the notes were provided by Moody’s and DBRS Morningstar, and were based on the structure of the transaction, the historical performance of similar receivables and CPS’s experience as a servicer.
Get started
Create a free account to read the full story.