Foursight Capital Automobile Receivables Trust 2022-1 — Moody’s assigns definitive ratings to Foursight Capital Automobile Receivables Trust 2022-1

Rating Action: Moody’s assigns definitive ratings to Foursight Capital Automobile Receivables Trust 2022-1Global Credit Research – 26 Jan 2022Approximately $206 million of asset-backed securities ratedNew York, January 26, 2022 — Moody’s Investors Service (“Moody’s”) has assigned definitive ratings to the notes issued by Foursight Capital Automobile Receivables Trust 2022-1 (FCRT 2022-1). This is the first auto loan transaction of the year for Foursight Capital LLC (Foursight; unrated). The notes are backed by a pool of retail automobile loan contracts originated by Foursight, who is also the servicer and administrator for the transaction.The complete rating actions are as follows:Issuer: Foursight Capital Automobile Receivables Trust 2022-1Class A-2 Notes, Definitive Rating Assigned Aaa (sf)Class A-3 Notes, Definitive Rating Assigned Aaa (sf)Class B Notes, Definitive Rating Assigned Aa3 (sf)Class C Notes, Definitive Rating Assigned A3 (sf)RATINGS RATIONALEThe ratings are based on the quality of the underlying collateral and its expected performance, the strength of the capital structure, the experience and expertise of Foursight as the servicer and administrator, a performance guarantee for the servicing and custodian function from Jefferies Financial Group (Baa2) and the backup servicing arrangement.Moody’s cumulative net loss expectation for the 2022-1 pool is 9.0% and the loss at a Aaa stress is 37.0%. Moody’s based its cumulative net loss expectation and loss at a…