NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to eight classes of notes issued by Carvana Auto Receivables Trust 2021-P2 (“CRVNA 2021-P2”), an auto loan ABS transaction.
CRVNA 2021-P2, represents the fourth term ABS securitization for the Company in 2021, the third under its prime shelf, and the tenth overall. CRVNA 2021-P2 will issue eight classes of notes totaling $802.43 million. The transaction is collateralized by approximately $775 million of automobile loans to primarily prime obligors as defined by the Company.
Carvana, LLC was founded in 2012 as an eCommerce platform for buying used vehicles. Carvana, through its website (www.Carvana.com), offers a unique used vehicle buying experience that enables customers to purchase vehicles online through an efficient and transparent process. Initially launched in Atlanta, Georgia, Carvana has expanded nationally and is now operating in 298 markets. Carvana’s business and operations fully integrate all steps of the vehicle purchase process including vehicle acquisition,…
