Westlake Automobile Receivables Trust 2025-P1's issuance is an ABS securitization backed by rime auto loan receivables. We assigned our preliminary ratings to the class A-1, A-2, A-3, A-4, B, C, and D notes. The preliminary ratings reflect our view of the transaction's available credit support, and payment and legal structure, among other factors. TORONTO (S&P Global Ratings) May 14, 2025--S&P Global Ratings today assigned its preliminary ratings to Westlake Automobile Receivables Trust 2025-P1's automobile receivables-backed notes (see list). The note issuance is an ABS securitization backed by rime auto loan receivables. The preliminary ratings are based on information as of May 14, 2025. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The
