11/13/2022 0 Comments Carmax finance calculatorMOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY’S ANALYTICS, INC. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (“ASSESSMENTS”), AND OTHER OPINIONS INCLUDED IN MOODY’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. SEE APPLICABLE MOODY’S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY’S CREDIT RATINGS. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. All rights reserved.ĬREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. and/or their licensors and affiliates (collectively, “MOODY’S”). © 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. Moody's takes rating actions on CarMax auto loan securitizations B, Confirmed Aa2 previously on Aa2 PlacedĬl. B, Confirmed A2, previously on A2 PlacedĬl. C, Downgraded to Baa3 previously on Baa2Ĭl. C, Downgrade to Ba1 previously on Baa3Ĭl. C, Downgraded to Ba1 previously on Baa3Ĭl. C, Confirm Baa3 previously on Baa3 PlacedĬl. C, Confirm Baa2 previously on Baa2 PlacedĬl. #Carmax finance calculator upgrade#C, On review for possible Upgrade previously onĬl. B, On review for possible Upgrade previously onĬl. Of monitoring this issue can also be found in the Credit Policy &Ĭl. Other methodologies and factors that may have been considered in the process & Methodologies directory, in the Ratings Methodologies subdirectory. Which can be found at in the Credit Policy The principal methodology used in taking these actions was "Moody's Approach Of recent Carmax transactions has occurred amid a challenging economicĮnvironment that has put pressure on prime auto loan performance across These tranches has increased substantially as a result of paydowns given Than our initial expectation however, the enhancement for Were placed on review for possible upgrade are performing modestly weaker Moody's had originally expected cumulative net losses to be between Lifetime net losses between 4.00% and 4.50%. Moody's will continue to refine its assessment of these transactions relativeįor the tranches that were confirmed or downgraded, Moody'sĬurrently anticipates the underlying transactions to incur cumulative The transactions and the build up of credit enhancement relative to expectedįuture losses in the underlying receivables pools. Profile of the securities, based upon the actual performance of The actions reflect the strengthening in the credit Moody's has also placed six subordinate securities from three transactions The review of the securities that were previously placed on review for Were prompted by Moody's updated loss expectations relative to theĬurrent levels of credit enhancement. New York, J- Moody's has confirmed six and downgraded five subordinate tranchesįrom seven auto loan transactions issued between 20 by CarMaxīusiness Services LLC ("CarMax").
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