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KBRA Assigns Preliminary Ratings to Octane Receivables Trust 2021-1
April 21, 2021 GMT
NEW YORK (BUSINESS WIRE) Apr 21, 2021
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Octane Receivables Trust 2021-1 (“OCTL 2021-1”), a powersports equipment loan ABS transaction.
OCTL 2021-1 will issue three classes of notes totaling $305.0 million. The transaction is expected to be collateralized by approximately $305.0 million of fixed rate installment loans, made to prime and non-prime borrowers as of the closing date. The preliminary ratings reflect the initial credit enhancement levels ranging from 16.85% for the Class A notes to 1.00% for the Class C notes, which build to 20.85% and 5.00% for the Class A and Class C notes, respectively.