---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-000570"
form_type: "8-K"
ticker: "CPSS"
cik: "0000889609"
company_name: "CONSUMER PORTFOLIO SERVICES, INC."
filed_at: "2025-01-28T23:59:59+00:00"
generated_at: "2026-05-27T08:50:20.234624+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001683168-25-000570
- form_type: 8-K
- ticker: CPSS
- cik: 0000889609
- company_name: CONSUMER PORTFOLIO SERVICES, INC.
- filed_at: 2025-01-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889609/000168316825000570/0001683168-25-000570-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889609/000168316825000570/cps_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-000570
- JSON: https://secwatch.observer/filing/0001683168-25-000570.json
- Plain text: https://secwatch.observer/filing/0001683168-25-000570.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.