This transaction is the fourth 2021 ABS securitization issued by DriveTime Automotive Group, Inc.
The target enhancement levels for the Class A notes and Class E notes are 58.50% and 16.00%, respectively. The transaction has initial credit enhancement levels ranging from 52.30% for the Class A notes, to 9.80% for the Class E notes. As of the statistical cut-off date, the auto loans are fixed rate installment loans, made to subprime borrowers. NEW YORK-( BUSINESS WIRE)-Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2021-4 (“DTAOT 2021-4”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.ĭTAOT 2021-4 will issue five classes of notes totaling $366.80 million, collateralized by approximately $350 million sub-prime auto loans.