Kbra assigns preliminary ratings to carvana auto receivables trust 2025-n1

New york--(business wire)-- #creditratingagency--kbra assigns preliminary ratings to seven classes of notes issued by carvana auto receivables trust 2025-n1 (“crvna 2025-n1”), a non-prime auto loan abs transaction. the transaction has initial hard credit enhancement levels ranging from 41.95% for the class a notes to 1.25% for the class e notes. credit enhancement consists of overcollateralization, excess spread, subordination (except for the class e notes) and a cash reserve account funded at closing. crvna 2025-n1.
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