We reviewed our ratings on Exeter Select Automobile Receivables Trust 2025-1, 2025-2, and 2025-3, which are ABS transactions backed by subprime retail auto loan receivables originated and serviced by Exeter Finance LLC. We raised our ratings on seven classes of notes from the three transactions and affirmed our ratings on 10. The rating actions reflect our view regarding each transaction's future collateral performance, structure, and credit enhancement, as well as our remaining cumulative net loss expectations, among other factors. NEW YORK (S&P Global Ratings) Oct. 28, 2026--S&P Global Ratings today raised its ratings on seven classes of notes from Exeter Select Automobile Receivables Trust (ESART) 2025-1 , 2025-2 , and 2025-3 . At the same time, we affirmed our ratings
