Pompano Beach, November 16, 2023
We are delighted to share some fantastic news regarding SAFCO’s recent auto loan portfolio securitization! Due to its performance, the SAFCO Auto Receivables Trust 2022-1 (“SAFCO 2022-1”) received a ratings upgrade from the Kroll Bond Rating Agency, LLC (KBRA).
KBRA, a credit rating agency registered with the U.S. Securities and Exchange Commission, has upgraded the ratings on three classes of notes issued from SAFCO 2022-1. Their analysis highlighted that the existing credit enhancement for these notes is more than sufficient to maintain the outstanding ratings. This upgrade stands as a testament to SAFCO’s exceptional performance and further solidifies our position in the market.
SAFCO’s CEO, George Fussell, expressed his gratitude by acknowledging, “This is great news for SAFCO, which would not be possible without the hard work, dedication, and expertise of our team.” “This upgrade not only reflects the strength of our operations but also underscores the effectiveness of our advanced credit and underwriting models,” he continued.
About SAFCO
SAFCO is an industry-leading auto finance company with the power to see creditworthiness where others don’t. Our proprietary originations system, complete with deep machine learning, enables us to see beyond credit scores and basic alternative data and instead base our decisions on unique, realistic insights that reveal the full credit potential of applicants. SAFCO is headquartered in Pompano Beach, Florida