secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0001683168-22-007190
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS closes $307M auto ABS deal; fourth securitization in 2022
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- Issued $307M asset-backed notes secured by $337.4M subprime auto receivables via CPS Auto Receivables Trust 2022-D.
- Five note classes: A ($172M, 6.09%, Aaa/AAA), B ($30.4M, 6.84%, Aa1/AA), C ($45.9M, 7.69%, A1/A), D ($22.6M, 8.73%, Baa3/BBB), E ($36.1M, 12.12%, NR/BB).
- Weighted average coupon on notes is approximately 8.48%; initial credit enhancement: 1.20% cash reserve plus 9.00% overcollateralization.
- 28th consecutive senior note class to receive triple-A rating from at least two agencies; Moody's and DBRS Morningstar provided ratings.
- Transaction is the 45th senior subordinate securitization since 2011 and the fourth in calendar 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316822007190/0001683168-22-007190-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316822007190/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-007190

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