...- Exeter Select Automobile Receivables Trust 2025-1's issuance is an ABS transaction backed by subprime auto loan receivables. - We assigned our preliminary ratings to the class A-1, A-2, A-3, B, C, D, and E notes. - The preliminary ratings reflect our view of the transaction's credit support, collateral characteristics, and payment and legal structures, among other factors. NEW YORK (S&P Global Ratings) April 14, 2025--S&P Global Ratings today assigned its preliminary ratings to Exeter Select Automobile Receivables Trust 2025-1's automobile receivables-backed notes (see list). The note issuance is an ABS transaction backed by subprime auto loan receivables. The preliminary ratings are based on information as of April 14, 2025. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect: - The availability of approximately 42.11%, 36.07%, 27.69%, 21.05%, and 18.13% credit support (hard credit enhancement...
