Flagship Credit Auto Trust 2020-2: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the Flagship Credit Auto Trust 2020-2 transaction (FCAT 2020-2 or the Issuer). FCAT 2020-2 represents the 26th term asset-backed security (ABS) transaction on Flagship Credit Acceptance, LLC (Flagship or the Company) platform and the 20th term ABS transaction with collateral from multiple originators. In the combined history of CarFinance Capital LLC (CarFinance or CFC) and Flagship from 2015 to 2019, 30 term ABS transactions were issued. The transaction offers both senior and subordinate rated securities.