Low-cost financing spurs CAC’s largest ABS deal

Lower base rates and attractive credit spreads in the auto ABS market have helped usher in Credit Acceptance Corp.’s largest securitization in company history. The subprime lender closed a $600 million deal in mid-October, its third of the year. Spreads tightened on all the deal’s tranches by up to 50 basis points, bringing its triple-, […]