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-0.000215936082919404 0.000419170043314254 3.81063675740231E-05 3.81063675740231E-05 -0.00250231813736079 -0.00174019078588033 -0.000724020983906438 0.00321363699874249
Stock impact report

KBRA Assigns Preliminary Ratings to GLS Auto Receivables Issuer Trust 2024-2 [Yahoo! Finance]

Assured Guaranty Ltd. (AGO) 
US:NYSE Investor Relations: assuredguaranty.com/investor-information
Company Research Source: Yahoo! Finance
GCAR 2024-2 represents the second term ABS securitization under their GCAR program for Global Lending Services, LLC ("GLS" or the "Company") in 2024 and the 27th overall. GCAR 2024-2 will issue five classes of notes (seven tranches) totaling $619.01 million collateralized by a pool of retail automobile contracts, made to subprime obligors and secured by new and used automobiles. GLS is an auto finance company founded in 2011 and is majority-owned by funds managed by Sound Point Capital Management, L.P. ("Sound Point"), an alternative asset manager. Funds managed by Sound Point and legacy funds formerly managed by BlueMountain Capital Management have invested $135 million since GLS' inception. As of March 31, 2024, the Company had total assets of approximately $6.0 billion, loss absorbing capital of approximately $528.2 million, and an aggregate managed portfolio balance of $6.5 billion. KBRA applied its Auto Loan ABS Global Rating Methodology as well as its Global Structured Fina Show less Read more
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