...- CarMax Auto Owner Trust 2025-2's issuance is an ABS transaction backed by prime auto loan receivables. - We assigned our preliminary ratings to the class A-1, A-2a/A-2b, A-3, A-4, B, C, and D notes. - The preliminary ratings reflect our view of the transaction's credit enhancement and payment and legal structures, among other factors. ENGLEWOOD (S&P Global Ratings) April 21, 2025--S&P Global Ratings today assigned its preliminary ratings to CarMax Auto Owner Trust 2025-2's auto receivables asset-backed notes (see list). The note issuance is an ABS transaction backed by prime auto loan receivables. The preliminary ratings are based on information as of April 21, 2025. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect our view of: - The availability of approximately 8.55%, 6.81%, 5.56%, and 4.48% (8.56%, 6.82%, 5.57%, and 4.49% if upsized) credit support (hard credit enhancement and haircut to excess...
