Transaction Update: Red&Black Auto Germany 9 UG (Haftungsbeschrankt) - S&P Global Ratings’ Credit Research

Transaction Update: Red&Black Auto Germany 9 UG (Haftungsbeschrankt)

Transaction Update: Red&Black Auto Germany 9 UG (Haftungsbeschrankt) - S&P Global Ratings’ Credit Research
Transaction Update: Red&Black Auto Germany 9 UG (Haftungsbeschrankt)
Published Nov 20, 2025
4 pages (1645 words) — Published Nov 20, 2025
Price US$ 375.00  |  Buy this Report Now

About This Report

  
Abstract:

This report does not constitute a rating action. Ratings Tranche Maturity date Current rating Last review date A Sep. 15, 2031 AAA (sf) Oct. 23, 2025 B Sep. 15, 2031 AAA (sf) Oct. 23, 2025 C Sep. 15, 2031 A+ (sf) Oct. 23, 2025 D Sep. 15, 2031 BB+ (sf) Oct. 23, 2025 E Sep. 15, 2031 NR Oct. 23, 2025 Sub Loan Sep. 15, 2031 NR Oct. 23, 2025 The ratings are unchanged since Oct. 28, 2024. NR--Not rated. Red&Black Auto Germany 9 is the 9th ABS transaction initiated by 'Bank Deutsches Kraftfahrzeuggewerbe GmbH' (BDK). The underlying collateral consists of German loan receivables for new and used cars. BDK originated and granted the loans to its private

  
Brief Excerpt:

...Collateral type(s) ABS auto loans Pool factor 30.63% Domicile of assets Germany WA seasoning (in months) 41.83 Closing date Oct. 19, 2022 Revolving/amorti zing Amortizing Legal final maturity Sept. 15, 2031 Revolving end date N/A Currency EUR Waterfall type Split Original collateral balance 600 mil. Reserve fund 4.377 mil. WA--Weighted-average. N/A--Not applicable. Table 2...

  
Report Type:

Transaction Update Report

Issuer
Red&Black Auto Germany 9 UG (Haftungsbeschrankt)
Sector
Structured Finance
Country
Germany
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Transaction Update: Red&Black Auto Germany 9 UG (Haftungsbeschrankt)" Nov 20, 2025. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-Red-Black-Auto-Germany-9-UG-Haftungsbeschrankt-3482390>
  
APA:
S&P Global Ratings’ Credit Research. (). Transaction Update: Red&Black Auto Germany 9 UG (Haftungsbeschrankt) Nov 20, 2025. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-Red-Black-Auto-Germany-9-UG-Haftungsbeschrankt-3482390>
  
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