KBRA assigned preliminary ratings to five classes of notes that will be issued by Octane Receivables Trust 2024-2 (OCTL 2024-2), a powersports equipment loan ABS transaction.
OCTL 2024-2 will issue five classes (six tranches) of notes totaling $365 million. The transaction is collateralized by approximately $376.289 million of fixed rate installment loans, made to prime and non-prime borrowers as of the closing date. The ratings reflect the initial credit enhancement levels ranging from 33.35% for the Class A notes to 3.75% for the Class E notes.
The full report is available online: https://www.kbra.com/publications/LQRhdDKw/octane-receivables-trust-2024-2-pre-sale-report?format=file.
