secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2025-07-28T23:59:59+00:00
Accession:  0001683168-25-005440
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS closes $418.33M auto receivable securitization (2025-C); 39th consecutive triple-A senior class
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- Issued $418.33M in asset-backed notes secured by $433.50M of subprime auto receivables.
- Five note classes: A ($184.45M, 4.71%), B ($57.44M, 4.71%), C ($72.39M, 4.91%), D ($47.69M, 5.28%), E ($56.36M, 6.59%).
- Weighted average coupon of approx. 5.43%; initial credit enhancement: 1.00% cash reserve and 3.50% overcollateralization.
- Senior Class A rated AAA by S&P and DBRS; this is CPS's third term securitization in 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316825005440/0001683168-25-005440-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316825005440/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-25-005440

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer