...- We affirmed our '### (sf)' rating on Cars Alliance Auto Loans Germany Master FCT's class A notes in connection with the transaction renewal. - The transaction is a securitization of a portfolio of German fixed rate amortizing and balloon auto loan receivables, which RCI Banque S.A., Niederlassung Deutschland originated. MILAN (S&P Global Ratings) March 18, 2022--S&P Global Ratings today affirmed its '### (sf)' credit rating on Cars Alliance Auto Loans Germany Master FCT's class A notes. Cars Alliance Auto Loans Germany Master FCT is a securitization of a portfolio of German auto loan receivables, originated by RCI Banque S.A., Niederlassung Deutschland, the German branch of the captive finance company of the Renault-Nissan alliance to retail customers. RCI Banque S.A., Niederlassung Deutschland is the initial servicer, and no back-up servicer has been appointed. This is a revolving transaction that closed in March 2014 and initially featured a four-year revolving phase ending in March...
