BEIJING, April 26, 2022-S&P Global (China) Ratings has assigned its AAA_spc(sf) ratings to Class A Notes (senior notes) of the Toyota Glory 2022 Phase I Retail Auto Loan Credit Asset-backed Securities. The transaction was originated by Toyota Motor Finance (China) Company Limited (TMF). 

List of Ratings:  

Class A:  AAA_spc(sf)  

Methodology Applied:  

S&P Ratings China--Structured Finance Methodology  
Related Research:  
Commentary: Understanding Our Approach to China Consumer Asset-Backed Securities  
Model Applied:  
SPG China Ratings Structured Finance Cash Flow Engine  

Media Contacts:

Sharon Tang, Beijing, (86)10-6569-2988; sharon.tang@spgchinaratings.cn

Analyst Contacts:

Beibei Shi, CFA, Beijing; beibei.shi@spgchinaratings.cn

Jieqiong Du, Beijing;    jieqiong.du@spgchinaratings.cn

Kaiyan Li, Beijing; kaye.li @spgchinaratings.cn