Salt Lake City –Avid Acceptance, LLC (“Avid” or the “Company”) announced that Kroll Bond Rating Agency (KBRA) has issued a credit upgrade to the Company’s $114 million inaugural securitization, issued in January 2018, by upgrading the Class A note rating from A to A+. KBRA also affirmed the ratings of the Class B and Class C notes.
“After one year, we are pleased with the performance of this transaction, which has been in line with our expectations” said Curtis Ash, the Company’s Chief Financial Officer.
About Avid Acceptance, LLC
Avid Acceptance, LLC is a privately held consumer finance company that offers specialty automobile financing to consumers through its network of dealers. The Salt Lake City based Company was founded in 2009.
Avid is a diversified financial services firm specializing in purchasing and servicing retail automobile contracts originated by its network of franchised and select independent dealers in the United States. The Company provides indirect financing through its automobile contract purchases, serving as an alternative source of financing for auto dealerships.
The Company is part of Avtech Financial Group, an association of companies that provide a range of financing and servicing solutions to clients throughout the United States. The Avtech Financial Group of companies provide large and small-scale real estate financing options for commercial real estate, equipment leasing for many types of equipment and software in multiple industries, and consumer automobile financing. For more information, please visit www.avtechfinancialgroup.com
Avid Acceptance, LLC
Curtis Ash, 801-944-3312
Marcus Tarbet, 801-365-3639