NEW YORK–(BUSINESS WIRE)– #creditratingagency–KBRA assigns preliminary ratings to 16 classes of notes issued by Research-Driven Pagaya Motor Asset Trust 2026-5 and Research-Driven Pagaya Motor Trust 2026-5 (collectively “RPM 2026-5”), an auto loan ABS transaction. RPM 2026-5 has initial credit enhancement levels of 94.54% for the Class A-1 notes to 5.19% for the Class XS notes. Credit enhancement is comprised of overcollateralization (“O/C”), subordination of junior note classes (except for the Class E-2 notes an