Corporate$CVNA9:31 AM ETdeveloping · v2

Fitch expects to rate Carvana 2026-P4 auto ABS; AAA to BB+ ratings

By BORSA NewsroomPublished Nov 12, 2026, 9:31 AM ESTUpdated Nov 12, 2026, 9:32 AM EST

Fitch expects to assign ratings to Carvana Auto Receivables Trust 2026-P4, with senior notes rated AAA and subordinate notes down to BB+. The pool shows high extended-term loan concentration and a weighted average FICO of 704. Credit enhancement levels align with prior 2026 deals. The rating case loss proxy is 3.00%.

Sentimentbullish 65

Bullish · 65 of 100

Impact30

low · stays off the top drivers

Confidence90%

high confidence · 2 wires

Eventdeveloping

v2 · alerted to followers

WHAT WE KNOW

Fitch expects to rate Carvana Auto Receivables Trust 2026-P4.