secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2026-04-24T23:59:59+00:00
Accession:  0001683168-26-003193
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS completes record $514M auto ABS securitization; largest in history
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- Issued $514.07M asset-backed notes secured by $526.17M subprime auto receivables.
- Five classes: A ($237.6M at 4.35%), B ($76.4M at 4.59%), C ($78.66M at 4.93%), D ($48.67M at 5.20%), E ($72.72M at 7.14%).
- Largest of 109 securitizations; first over $500M; weighted average coupon 5.51%.
- Senior class A rated Aaa/AAA by Moody's and DBRS Morningstar; initial credit enhancement 1.00% cash deposit + 2.30% overcollateralization.
- 59th senior subordinate securitization since 2011; 42nd consecutive triple-A on senior notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316826003193/0001683168-26-003193-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316826003193/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-003193

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