CPS closes $442.4M auto ABS securitization (2025-A) with triple-A rated senior notes

CONSUMER PORTFOLIO SERVICES, INC.

$442.4M of asset-backed notes secured by $462.5M in subprime auto receivables; five classes rated by S&P and DBRS.
Senior Class A notes ($202.4M) rated AAA/AAA with 4.77% coupon and 0.68-year average life.
Weighted average coupon ~5.88%; initial credit enhancement: 1% cash reserve + 4.35% overcollateralization.
54th senior subordinate securitization since 2011; 37th consecutive triple-A rating on senior class.
Notes issued by CPS Auto Receivables Trust 2025-A; CPS will service the receivables.

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