CPS Announces $110 Million Senior Subordinate Asset-Backed Securitization

Consumer Portfolio Services, Inc. CPSS today announced the closing of its second rated term securitization in 2011. The transaction is CPS's third senior subordinate securitization since 1993. In the transaction, qualified institutional buyers purchased $109,936,000 of asset-backed notes secured by automobile receivables purchased by CPS primarily in 2011. The sold notes, issued by CPS Auto Receivables Trust 2011-B, consist of four classes. Ratings of the notes were provided by Standard & Poor's and were based on the structure of the transaction, the historical performance of similar receivables and CPS's experience as a servicer.