...Fitch Ratings expects to rate the auto loan ABS issued by Toyota Auto Receivables 2021- B Owner Trust (TAOT 2021-B, or 2021-B) as listed above. This is the second series issued by Toyota Motor Credit Corporation (TMCC) in 2021, the 52nd overall, and the third series rated by Fitch. This series is backed by a pool of fixed-rate motor vehicle retail installment sales contracts secured by new or used cars, crossover utility vehicles, light-duty trucks and sport utility vehicles, originated and serviced by TMCC, wholly owned by Toyota Financial Services International Corporation, which is a wholly owned subsidiary of Toyota Financial Services Corporation (TFSC). TFSC, in turn, is a wholly owned subsidiary of Toyota Motor Corporation (TMC). The 2021-B transaction references two potential pools to be securitized, namely a $1.3 billion pool and a larger $1.7 billion pool, with the notes and certificates totaling $1.2 billion and $1.6 billion, respectively. The pools are materially similar and...
