KBRA Assigns Preliminary Ratings to Carvana Auto Receivables Trust 2025-N1
1. Carvana's ABS transaction issues $300 million in notes for non-prime auto loans. 2. CBRA assigned initial credit enhancements from 41.95% to 1.25% for different notes. 3. Carvana expands its securitization, targeting an extensive range of credit customers. 4. Preliminary ratings follow comprehensive methodologies including operational reviews of Carvana.