BEIJING, July 24, 2023- S&P Global (China) Ratings has conducted surveillance on four transactions under the Silver Arrow China Series of Retail Auto Loan Backed Securities, originated by Mercedes-Benz Auto Finance LTD(MBAFC).
Silver Arrow China 2021-1 Retail Auto Loan Backed Securities:
Silver Arrow China 2021-2 Retail Auto Loan Backed Securities:
Silver Arrow China 2022-1 Retail Auto Loan Backed Securities:
Silver Arrow China 2022-2 Retail Auto Loan Backed Securities:
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:
Enjie Zhang, Beijing; enjie.zhang@spgchinaratings.cn
Jieqiong Du, Beijing; jieqiong.du@spgchinaratings.cn
