CPS Announces $160 Million Senior Subordinate Asset-Backed Securitization

IRVINE, Calif., Dec. 19, 2012 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq:CPSS) ("CPS" or the "Company") today announced the closing of its fourth term securitization in 2012. The transaction is CPS's seventh senior subordinate securitization since 2011.

In the transaction, qualified institutional buyers purchased $160,000,000 of asset-backed notes secured by automobile receivables purchased by CPS. The sold notes, issued by CPS Auto Receivables Trust 2012-D, consist of five classes. Ratings of the notes were provided by Standard & Poor's and Moody's and were based on the structure of the transaction, the historical performance of similar receivables and CPS's experience as a servicer.

Note Class	Amount	Interest	Average	Price	Standard &	Moody's
		Rate	Life		Poor's Rating	Rating
A	$122.4 million	1.48%	1.67 years	99.98791%	AA-	A2
B	$14.4 million	1.94%	1.93 years	99.98668%	A	A2
C	$9.6 million	2.64%	2.68 years	99.99637%	BBB+	Baa2
D	$8.0 million	4.82%	2.32 years	99.98014%	BB	Ba2
E	$5.6 million	7.26%	1.88 years	99.99292%	BB-	B1

The weighted average effective coupon on the notes is approximately 2.06%. 

The 2012-D transaction has initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance.  The final enhancement level requires accelerated payment of principal on the notes to reach overcollateralization of 11.50% of the then-outstanding receivable pool balance. 

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