Kbra assigns preliminary ratings to carvana auto receivables trust 2024-n1

New york--(business wire)-- #creditratingagency--kbra assigns preliminary ratings to five classes of notes (seven tranches) issued by carvana auto receivables trust 2024-n1 (“crvna 2024-n1”), a non-prime auto loan abs transaction. the transaction has initial hard credit enhancement levels ranging from 48.75% 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 reserve account funded at closing. cr.
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