Flagship Credit Auto Trust 2020-1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the Flagship Credit Auto Trust 2020-1 transaction (FCAT 2020-1 or the Issuer). FCAT 2020-1 represents the 25th term asset-backed security (ABS) transaction on Flagship Credit Acceptance LLC (Flagship or the Company) platform and the 19th term ABS transaction with collateral from multiple Originators. In the combined history of CarFinance (CarFinance or CFC) and Flagship from 2015 to 2019, 29 term ABS transactions were issued. The transaction offers both senior and subordinate rated securities.