Pagaya Secures First AAA Rating on $300M Auto Securitization Deal

Pagaya Achieves First AAA-Rated Auto ABS with $300 Million Deal, Underscoring Strength of its Auto Platform

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06/12/2025 - 08:30 AM

Transaction marks first AAA-rated Auto deal and third ~$300 million Auto ABS deal of 2025
Over $5.5 billion of capital commitments raised this year to fund all asset classes in Pagaya’s ABS and forward-flow programs

NEW YORK--(BUSINESS WIRE)-- Pagaya Technologies LTD. (NASDAQ: PGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of a new $300 million AAA-rated auto loan ABS transaction (RPM 2025-3). This marks the first AAA-rated transaction from Pagaya’s RPM program, a milestone made possible by the consistent performance and scaled production the Company has demonstrated since launching the program six years ago.

Institutional investors continue to demonstrate strong appetite for Pagaya’s asset-backed offerings. Pagaya’s RPM Auto program has become a recognized platform for consistent execution, robust data transparency, and resilient performance. RPM 2025-3 consists of assets sourced through Pagaya’s network of auto lending partners, including some of the nation’s leading auto lenders serving over 30,000 franchise and independent dealerships across the country. This transaction was the first RPM deal to receive a K1+ rating and AAA rating from KBRA, reflecting the high credit quality and structural strength of the deal.

“The ability to achieve a AAA-rating on our RPM program is a testament to the strength of our platform and the quality of our network assets,” said Sahil Chandiramani, Pagaya’s Head of Capital Markets. “We’re proud to deliver high-performing, scalable programs that give our partners confidence, even in dynamic market environments. Our focus remains on driving disciplined growth across all verticals while deepening access to long-term capital.”

Since 2018, Pagaya has raised over $29 billion across 72 ABS transactions to fund loan originations across multiple products, including personal loan, auto, and point-of-sale.

About Pagaya Technologies

Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.