HONG KONG (S&P Global Ratings) Oct. 28, 2026--S&P Global Ratings today assigned its'AAA (sf)'rating to the class A notes issued by Chengrui 2026 Phase VII Personal Consumption Loan Asset-Backed Specific Plan (the issuer). This is a consumer loan securitization transaction co-originated by China Foreign Economy and Trade Trust Co. Ltd.--acting as originator, seller, servicer 2, and technical service provider--and Mashang Consumer Finance Co. Ltd.--acting as servicer 1. The asset-backed securities are set up under the China Securities Regulatory Commission (CSRC) securitization scheme. The rating reflects the following factors. The credit risk associated with the underlying collateral portfolio and the credit support available are commensurate with our view of credit risk under'AAA'rating stress. Our assessment of credit
