Core Viewpoint - Consumer Portfolio Services, Inc. has successfully closed its first term securitization in 2026, marking its 58th senior subordinate securitization since 2011 and the 41st consecutive securitization to receive a triple "A" rating from at least two rating agencies for the senior class of notes [1]. Group 1: Transaction Details - The securitization involved the sale of $345.61 million in asset-backed notes, secured by $352.66 million in automobile receivables originated by the company [2]. - The notes were issued by CPS Auto Receivables Trust 2026-A and consist of five classes, with ratings provided by Standard & Poor's and DBRS Morningstar based on transaction structure and historical performance [2]. - The weighted average coupon on the notes is approximately 5.18% [3]. Group 2: Note Class Breakdown - Class A notes amount to $155.520 million with an interest rate of 4.19% and a rating of AAA from both S&P and DBRS [3]. - Class B notes total $47.790 million with an interest rate of 4.43% and a rating of AA from both agencies [3]. - Class C notes are $58.360 million with an interest rate of 4.63% and a rating of A [3]. - Class D notes amount to $38.440 million with an interest rate of 4.98% and a rating of BBB [3]. - Class E notes total $45.500 million with an interest rate of 6.66% and a rating of BB from DBRS [3]. Group 3: Credit Enhancement and Payment Structure - The transaction features initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance and overcollateralization of 2.00% [4]. - Agreements require accelerated principal payments to achieve overcollateralization of the lesser of 7.30% of the original receivable pool balance or 18.00% of the outstanding pool balance [4]. Group 4: Company Overview - Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories [6]. - The company purchases retail installment sales contracts primarily from franchised automobile dealerships, funding these purchases mainly through securitization markets [6].