KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2025-5 and Research-Driven Pagaya Motor Trust 2025-5
Pagaya Technologies .(US:PGY) Businesswire·2025-09-23 14:39交易概述 - KBRA初步评级的对象是由Research-Driven Pagaya Motor Asset Trust 2025-5和Research-Driven Pagaya Motor Trust 2025-5发行的七档票据[1] - 该交易是一项汽车贷款资产支持证券（ABS）交易[1] 信用增级水平 - A-1级票据的初始信用增级水平为91.90%[1] - E级票据的初始信用增级水平为9.41%[1] - 信用增级结构包括超额抵押、次级票据的从属地位（E级票据除外）以及现金储备[1]