{"id":31269,"date":"2026-07-06T20:40:00","date_gmt":"2026-07-06T18:40:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=aa23ca66412bdcb3e4206f2596556ddd"},"modified":"2026-07-06T20:40:00","modified_gmt":"2026-07-06T18:40:00","slug":"kbra-assigns-preliminary-ratings-to-gls-auto-select-receivables-issuer-trust-2026-3","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=31269","title":{"rendered":"KBRA Assigns Preliminary Ratings to GLS Auto Select Receivables Issuer Trust 2026-3"},"content":{"rendered":"

NEW YORK--(BUSINESS WIRE)--#creditratingagency<\/a>--KBRA assigns preliminary ratings to five classes of notes issued by GLS Auto Select Receivables Issuer Trust 2026-3 (\"GSAR 2026-3\"), an auto loan ABS transaction.<\/p><\/a><\/a>

\nGSAR 2026-3 represents the 12th<\/sup> near prime term ABS securitization for Global Lending Services LLC (\u201cGLS\u201d or the \u201cCompany\u201d), and the third near-prime public securitization of 2026. Since 2014, the Company has also issued 35 securitizations under its GCAR program, collateralized by mostly subprime auto loans. GSAR 2026-3 will issue five classes of notes totaling $257.08 million, collateralized by a pool of retail automobile contracts, made to near-prime obligors and secured by new and used automobiles. Credit enhancement on the notes consists of overcollateralization, subordination of junior note classes (except for the Class D notes), a cash reserve account, and excess spread.<\/p>

\nGLS is an auto finance company founded in 2011 and is majority-owned by affiliates of Sixth Street Partners, LLC, a global investment firm. Based on financials provided by the Company, GLS has been profitable since 2017. Based on unaudited financials, the Company reported net income of approximately $114.9 million for Q1 2026. As of March 31, 2026, the Company had total assets of approximately $12.0 billion, and total members\u2019 equity of $1.3 billion.<\/p>

\nKBRA applied its Auto Loan ABS Global Rating Methodology as well as its Global Structured Finance Counterparty Methodology as part of its analysis of the transaction\u2019s underlying collateral pool, the proposed capital structure, and GLS\u2019s historical static pool data. KBRA considered its operation review of GLS, as well as periodic due diligence calls with GLS. Operative agreements and legal opinions will be reviewed prior to closing.<\/p>

\nTo access ratings and relevant documents, click here<\/a>.<\/p>

\nClick here<\/a> to view the report.<\/p>

\nMethodologies<\/strong><\/p>