KBRA Rates Lendbuzz ABS

By Staff Writer May 22, 2023

KBRA has assigned preliminary ratings to three classes of notes (four tranches) issued by Lendbuzz Securitization Trust 2023-2 (LBZZ 2023-2), an auto loan ABS transaction.

LBZZ 2023-2 is Lendbuzz Funding LLC’s fourth ABS securitization. LBZZ 2023-2 will issue three classes of notes (four tranches) totaling $163.15 million collateralized by a pool of retail automobile contracts made to obligors and secured by new and used automobiles, light duty trucks, and vans. Credit enhancement on the notes is comprised of overcollateralization, subordination of junior note classes, a cash reserve account, and excess spread.

Lendbuzz is a car financing company established in 2015, headquartered in Boston, with a research division based in Tel Aviv, Israel.

Rate this item
(0 votes)
Last modified on Wednesday, 24 May 2023 10:06