...- Lendbuzz Securitization Trust 2024-2's issuance is an ABS securitization backed by a mix of nonprime and subprime auto loan receivables. - We assigned our ratings to the class A-2 and B notes. - The ratings reflect our view of the transaction's credit enhancement and payment and legal structures, among other factors. NEW YORK (S&P Global Ratings) April 26, 2024--S&P Global Ratings today assigned its ratings to Lendbuzz Securitization Trust 2024-2's automobile receivables-backed notes (see list). The note issuance is an ABS securitization backed by a mix of nonprime and subprime auto loan receivables. The ratings reflect our view of: - The availability of approximately 25.7% and 18.9% credit support (hard credit enhancement and haircut to excess spread) for the class A-2 and B notes, respectively, based on final post-pricing stressed cash flows. These credit support levels provide at least 2.88x and 2.19x coverage of our expected cumulative gross loss of 17.50% for the class A-2 and B...
