Skopos Auto Receivables Trust 2019-1: Rating Report

DBRS, Inc. (DBRS) finalized its provisional ratings on Skopos Auto Receivables Trust 2019-1 (SKOP 2019-1 or the Transaction). The SKOP 2019-1 transaction represents the fourth term transaction completed by Skopos Financial, LLC (Skopos or Company) and the third DBRS-rated term transaction. Skopos has previously issued an unrated asset-backed term securitization in April 2015 (Skopos 2015-1), a rated asset-backed term transaction in November 2015 (Skopos 2015-2) and March 2018 (Skopos 2018-1). Transaction assets consists of a pool of subprime automobile loan contracts secured by new and used automobiles, light duty trucks, minivans and sport-utility vehicles issued to obligors who have experienced prior credit difficulties. SKOP 2019-1 offers both senior and subordinate rated securities.