KBRA Assigns Preliminary Ratings to LAD Auto Receivables Trust 2024-1
KBRA assigns preliminary ratings to four classes of notes (seven tranches) issued by LAD Auto Receivables Trust 2024-1 ("LADAR 2024-1"), an auto loan ABS transaction.
- KBRA assigns preliminary ratings to four classes of notes (seven tranches) issued by LAD Auto Receivables Trust 2024-1 ("LADAR 2024-1"), an auto loan ABS transaction.
- LADAR 2024-1 represents the seventh overall ABS securitization for Driveway Finance Corporation ("DFC" or the "Company"), and first of 2024.
- DFC is a wholly owned subsidiary of Lithia Financial Corporation, itself a wholly owned subsidiary of Lithia Motors, Inc. (“Lithia”).
- KBRA considered its operational review of Lithia and DFC, as well as several business updates with the Company since that time.