Mon, Mar 24, 8:52 PM (105 days ago)
**World Omni Auto Receivables Trust 2024-A (WOAT)** **Summary:** World Omni Auto Receivables Trust 2024-A (WOAT) filed its annual report for the fiscal year ended December 31, 2024. WOAT is a non-accelerated filer and a smaller reporting company. The trust is sponsored by World Omni Financial Corp. (WOFC) and managed by World Omni Auto Receivables LLC (WOAR). **Financial Performance:** The document does not provide specific financial figures for revenue, net income, or operating expenses. However, it mentions that no single obligor represents 10% or more of the pool assets, and there is no external credit enhancement or support for the trust's notes or certificates. **Strategic Overview and Market Position:** WOAT is a special purpose vehicle created to issue asset-backed securities. The trust's assets are auto receivables originated by WOFC. The sponsor and depositor are affiliated, with WOFC acting as the primary servicer. The indenture trustee, U.S. Bank Trust Company, is not affiliated with the sponsor or depositor. **Risk Factors and Legal Proceedings:** WOAT faces risks related to the performance of the underlying auto receivables and the legal proceedings involving U.S. Bank, the indenture trustee. U.S. Bank is involved in litigation related to its role as trustee for residential mortgage-backed securities and student loan trusts. However, these proceedings are not expected to have a material impact on WOAT. **Future Outlook:** The trust's future outlook depends on the performance of the auto receivables pool and the continued compliance of the servicing parties with applicable criteria. The trust has not provided specific guidance on its expected financial performance. **Financial Condition:** The trust's financial condition is not explicitly detailed in the document. However, the absence of significant obligors and external credit enhancement suggests a reliance on the underlying auto receivables for repayment. **Ticker:** WOAT **Market Position Changes:** There are no notable changes in the market position reported. The trust's operations and structure remain consistent with its initial formation.