April 22, 2021
Business News

KBRA Assigns Preliminary Ratings to DT Auto Owner Trust 2021-2

NEW YORK–()–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2021-2 (“DTAOT 2021-2”), a $435.0 million auto loan ABS transaction.

This transaction is the second 2021 ABS securitization issued by DriveTime Automotive Group, Inc. (“DriveTime” or the “Company”). DriveTime is a leading used vehicle retailer in the United States that focuses on both the sale and financing of vehicles to subprime borrowers. The transaction has initial credit enhancement levels ranging from 54.50% for the Class A notes, to 14.50% for the Class E notes. The target enhancement levels for the Class A notes and Class E notes are 58.90% and 18.90%,…

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