KBRA Assigns Preliminary Ratings to Avid Automobile Receivables Trust

Salt Lake City – Avid Acceptance, LLC (“Avid” or the “Company”) announced that Kroll Bond Rating Agency (KBRA) assigned preliminary ratings to five classes of notes issued by Avid Automobile Receivables Trust 2019-1.

This transaction is Avid’s second securitization. The total receivables balance after the completion of the five-month prefunding period is expected to be $180.0 million. The preliminary ratings reflect the initial credit enhancement levels of Class A, B, C, D, and E notes.

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

Contacts

Avid Acceptance, LLC
Curtis Ash, 801-944-3312
cash@avidac.com

or

Marcus Tarbet, 801-365-3639
mtarbet@avidac.com