...- GM Financial Consumer Automobile Receivables Trust 2024-2's issuance is an ABS securitization backed by prime auto loan receivables. - We assigned our ratings to the class A-1, A-2-A, A-2-B, A-3, A-4, B, and C notes. - The ratings reflect our view of the transaction's credit enhancement and payment and legal structures, among other factors. CHICAGO (S&P Global Ratings) April 10, 2024--S&P Global Ratings today assigned its ratings to GM Financial Consumer Automobile Receivables Trust 2024-2's auto loan asset-backed notes (see list). The note issuance is an ABS securitization backed by prime auto loan receivables. The ratings reflect our view of: - The availability of approximately 8.6%, 7.4%, and 6.2% (both base and upsize) credit support for the class A (classes A-1, A-2, A-3, and A-4, collectively), B, and C notes, respectively (based on stressed cash flow scenarios including 100% credit to excess spread). These credit support levels provide coverage of at least 5.0x, 4.5x, and 4.0x...
