KBRA Assigns Preliminary Ratings to American Credit Acceptance Receivables Trust 2021-1

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of notes issued by American Credit Acceptance Receivables Trust 2021-1 (“ACAR 2021-1”), an asset-backed securitization collateralized by a pool of auto loans.
ACAR 2021-1 will issue six classes of notes totaling $410.78 million. The structure and collateral for ACAR 2021-1 are generally similar with the previous ACAR 2020-4 transaction. However, key structural differences from the prior deal include lower enhancement for all classes, except Class C and a 0.50% decrease to the credit enhancement floor. The transaction has initial hard credit enhancement levels of 61.00% for the Class A Notes through 11.70% for the Class F…