BEIJING, May 19, 2023- S&P Global (China) Ratings has assigned its rating AAA_spc(sf) to Silver Arrow China Mercedes-Benz Leasing Co., Ltd. 2023-1 Asset Backed Notes (SABL 2023-1 ABN) Senior Notes. The transaction was originated by Mercedes-Benz Leasing Co. Ltd. (MBLC).

List of Ratings:

Senior: AAA_spc(sf)

Methodology Applied:

S&P Ratings China--Structured Finance Methodology

Related Research:

Commentary: Understanding Our Approach to China Consumer Asset-Backed Securities
The Post-Covid Recovery | China Outlook 2023

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:

Enjie Zhang, Beijing; enjie.zhang@spgchinaratings.cn

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

Siyue Zhu, Beijing; april.zhu@spgchinaratings.cn