Veros Credit has prepped an inaugural rated US$165.28m subprime auto ABS. The transaction, Veros Auto Receivables Trust 2017-1 (see SCI's deal pipeline), is backed by a pool of 17,328 seasoned subprime auto loan contracts secured mostly by used vehicles.
Kroll Bond Rating Agency has assigned provisional ratings on the transaction of single-A on the US$128.74m
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