NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to seven classes of notes issued by Research-Driven Pagaya Motor Asset Trust 2025-5 and Research-Driven Pagaya Motor Trust 2025-5 (collectively "RPM 2025-5†), an auto loan ABS transaction. RPM 2025-5 has initial credit enhancement levels of 91.90% for the Class A-1 notes to 9.41% for the Class E notes. Credit enhancement is comprised of overcollateralization, subordination of junior note classes (except for the Class E notes ...