Press Release|ABS

KBRA Withdraws the Class E Rating on Flagship Credit Auto Trust 2018-4

22 May 2024   |   New York


KBRA withdraws the rating on the Class E notes issued by Flagship Credit Auto Trust 2018-4 (“FCAT 2018-4”), an auto loan ABS transaction that closed on November 21, 2018. At closing, FCAT 2018-4 had five classes of notes totaling $297.4 million. This action reflects Flagship’s decision to exercise the optional redemption on the outstanding Class E notes pursuant to the Indenture dated November 21, 2018. The optional redemption was elected as a result of the pool factor being at or below 5%.

To access rating and relevant documents, click here.


A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Doc ID: 1004424

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