Affirm Asset Securitization Trust 2026-X2's issuance is an ABS transaction backed by point-of-sale consumer installment loans. We assigned our preliminary ratings to the class A, B, C, and D notes. The preliminary ratings reflect our view of the transaction's credit enhancement, servicer and backup servicer, and legal structure, among other factors. ENGLEWOOD (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today assigned its preliminary ratings to Affirm Asset Securitization Trust 2026-X2's asset-backed notes (see list). The note issuance is an ABS transaction backed by point-of-sale consumer installment loans. The preliminary ratings are based on information as of Nov. 2, 2026. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings
