Subprime Lender Receives Bond Rating Featured

By Staff Writer September 11, 2019

Kroll Bond Rating Agency has assigned preliminary ratings to five classes of notes issued by Skopos Auto Receivables Trust 2019-1, an auto loan ABS transaction.

Founded in 2012, Skopos Financial is an indirect automobile finance company based in Irving, Texas. The company operates in the deep sub-prime market.

SKOP 2019-1 will issue five classes of notes totaling $144.8 million with an expected closing date of Sept. 16. This transaction represents the third rated term ABS securitization for Skopos.

Net proceeds from the notes’ issuance will pay down existing debt and for general operating purposes.

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Last modified on Wednesday, 11 September 2019 00:13

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