This report does not constitute a rating action. Ratings Tranche Maturity date Current rating Last review date A Sept. 15, 2031 AAA (sf) Oct. 13, 2026 B Sept. 15, 2031 AAA (sf) Oct. 13, 2026 C Sept. 15, 2031 A+ (sf) Oct. 13, 2026 D Sept. 15, 2031 BB+ (sf) Oct. 13, 2026 E Sept. 15, 2031 NR Oct. 13, 2026 Subordinated loan Sept. 15, 2031 NR Oct. 13, 2026 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 loans to its private customers.
