Flagship Credit Acceptance Completes Inaugural Triple-A Rated Asset-Backed Securitization
Flagship Credit Acceptance LLC ("Flagship" or "the Company"), a leading auto-finance provider, today announced that it has completed its sixteenth rated asset-backed securitization of the Company, Flagship Credit Auto Trust 2016-3 ("FCAT 2016-3" or the "Transaction"). The Company issued $440 million of Notes which closed on August 11, 2016 with a weighted average effective coupon on the notes of 2.93%. The Offered Notes consisted of five classes and were assigned ratings by Standard and Poor's Financial Services LLC and Kroll Bond Rating Agency, Inc. from AAA/AAA (sf) to BB-/BB (sf) ratings,