BEIJING, July 29, 2022- S&P Global (China) Ratings has conducted surveillance on two transactions under the Bavarian Sky China Series of Auto Loan Asset Backed Notes, originated by BMW AFC.
Bavarian Sky China 2021-2 Auto Loan Asset Backed Notes:
Bavarian Sky China 2021-3 Auto Loan Asset Backed Notes:
S&P Global (China) Ratings’ affirmation of the above ratings reflects the following factors. Further details can be found in our methodology and within the full surveillance rating reports:
Credit Quality of the Securitized Assets
Payment Structure and Cash Flow Mechanics
Operational and Administrative Risk
Counterparty Risk
Legal and Regulatory Risk
Methodology Applied:
S&P Ratings China--Structured Finance Methodology
Related Research:
Commentary: Understanding Our Approach to China Consumer Asset-Backed Securities
Models 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, Beijing; beibei.shi@spgchinaratings.cn
Jiarong Li, Beijing; jiaorong.li@spgchinaratings.cn
Li Kaiyan, Beijing; kaye.li@spgchinaratings.cn
