KBRA Assigns Preliminary Ratings to LAD Auto Receivables Trust 2023-2
KBRA assigns preliminary ratings to six classes of notes issued by LAD Auto Receivables Trust 2023-2 (“LADAR 2023-2”), an auto loan ABS transaction.
- KBRA assigns preliminary ratings to six classes of notes issued by LAD Auto Receivables Trust 2023-2 (“LADAR 2023-2”), an auto loan ABS transaction.
- LADAR 2023-2 represents the second term ABS securitization for Driveway Finance Corporation (“DFC” or the “Company”) in 2023 and the fourth overall.
- DFC is a wholly owned subsidiary of Lithia Financial Corporation, itself a wholly owned subsidiary of Lithia Motors, Inc. (“Lithia”).
- KBRA considered its onsite operational review of Lithia and DFC at its Tigard, OR location, as well as periodic due diligence updates with Lithia and DFC.