The SPV is the issuer of the ABS.

Name: The SPV is the issuer of the ABS.
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The Special Purpose Vehicle (SPV) is typically the issuer of Asset-Backed Securities (ABS). The role of an SPV is to hold the underlying assets of the ABS and issue the securities that represent a claim on the cash flows generated by those assets. Investors in the ABS are essentially investing in the cash flows generated by the underlying assets, rather than the creditworthiness of the SPV or its sponsors.

The SPV Is the Issuer of the ABS